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No pressure from US to cut Russian oil imports, Indian oil minister says - Finance news and analysis from Global Banking & Finance Review
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No pressure from US to cut Russian oil imports, Indian oil minister says

Published by Global Banking & Finance Review

Posted on October 27, 2026

2 min read

· Last updated: October 27, 2026

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India Not Pressured by US to Reduce Russian Oil Imports, Says Minister

India's Stance on Russian Oil Imports and Market Dynamics

By Nidhi Verma

GOA, India, Oct 27 (Reuters) - India has faced no pressure from the US to reduce its Russian crude imports, oil minister Hardeep Singh Puri said on Tuesday at an industry event.

Minister's Statement on US Pressure

"I never felt anything," Puri said when asked if there has been pressure to cut Russian oil imports.

Trends in Oil Supply Sources

Rising Middle East Oil Supplies

Puri said Middle East oil supplies have been rising as the region is able to ship out more cargoes.

Changes in Russian Oil Imports

He said India was getting 0.2% of its oil imports from Russia before the Ukraine war, while imports have surged since the war started due to discounts on Russian oil.

Recent Import Data and Market Competition

India's imports of Middle Eastern crude oil surged in September, returning to pre-war levels, while its refiners cut back purchases of Russian oil amid stiff competition from China, ship-tracking data showed.

Factors Influencing Import Decisions

The minister said that the purchase of Russian oil is linked to discounts and pricing when compared with other grades. Russian oil imports have been reduced as the refiners are buying more Gulf oil sold at a discount, he added.

"Whatever people say or do, ultimately it is anchored in their self-interest," he said.

Expansion of India's Refining Capacity

The minister also said India is expanding its refining capacity to help meet local demand and export commitments.

(Reporting by Nidhi Verma; Editing by Thomas Derpinghaus)

Key Takeaways

  • India has faced no discernible US pressure to reduce Russian oil imports, according to Oil Minister Puri.
  • Middle Eastern crude imports in September surged to pre‑war levels (~2.8 million bpd), while Russian imports dropped (~1.8 million bpd), driven by narrowing price discounts and improving Gulf supply.
  • India is expanding its refining capacity and attracting investment from UAE and Saudi Arabia to meet rising domestic demand and boost exports.

Frequently Asked Questions

Has India faced US pressure to cut Russian oil imports?
No, Oil Minister Hardeep Singh Puri stated that India has not faced any pressure from the US to reduce Russian crude imports.
Why have India's Russian oil imports surged since the Ukraine war?
India's Russian oil imports have surged due to discounts offered on Russian oil after the Ukraine war began.
Is India buying more Middle Eastern crude oil?
Yes, India's imports of Middle Eastern crude oil surged in September, returning to pre-war levels.
What factors influence India's purchase of Russian oil?
Purchases are linked to discounts and pricing when compared with other oil grades.
Is India expanding its oil refining capacity?
Yes, India is expanding its refining capacity to meet local demand and fulfill export commitments.

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