India’s oil imports from Russia dipped in December – media
US President Donald Trump recently announced a trade deal in which he claimed New Delhi agreed to end crude purchases from Russia
India’s oil imports from Russia dipped in December, Indian media outlets reported on Friday. The news follows US President Donald Trump’s announcement of a trade deal in which he claimed that New Delhi agreed to end purchases of Russian oil.
India has not confirmed the claim, and Prime Minister Narendra Modi has avoided any reference linking the trade deal to a halt to Russian oil purchases.
Oil imports from Russia fell to a 38-month low of $2.7 billion in December 2025, The Hindu reported.
Russian oil now accounts for less than a quarter of India’s imports, down from 34% a month ago, according to the report.
Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.
— Narendra Modi (@narendramodi) February 2, 2026
When two large economies and the…
It added that imports from the US rose 31% to $569.31 million in December compared to the same period a year ago. Volumes of imports from the US rose 58% to 1.1 million tonnes.
Moscow has said it is unaware of any decision by India to halt Russian oil purchases.
Indian refiners would require a wind-down period to complete oil deals with Russia, Reuters reported on Tuesday. It added that New Delhi has so far not ordered a halt to imports.
Indian oil buyers are unlikely to stop buying Russian oil completely any time soon, according to a Bloomberg report. The report said Russian oil shipments can reach India faster than from the US or Venezuela, and cited Russia’s discounts and lower freight costs as further reasons.
Venezuela’s oil production of only 800,000 barrels per day also raises supply constraints, according to Bloomberg.
India has said it is open to exploring the commercial merits of any supply options, including from Venezuela.
External Affairs Minister S. Jaishankar, who held talks with US Secretary of State Marco Rubio, said on Thursday in Washington that the US-India trade deal is in the final stages and will be completed soon.