Have no reports of Indian oil firms halting Russian imports: Government sources

Government sources dismissed the reports of Indian firms stopping Russian oil imports, asserting that India's energy decisions are based on market dynamics and national interest.

In Short

• Report claims state-run Indian firms stopped Russian oil buys
• Donald Trump welcomes report, calls it a 'good move'
• Government sources say no halt on Russian oil purchases

A day after reports claimed that state-run Indian oil companies halted crude purchases from Russia, government sources dismissed the claims, reaffirming that India’s energy imports are driven by market forces and national interest.

The remark came as US President Donald Trump welcomed the reports of the halt in Russian oil purchases, calling it a "good step".

"The government's position was made clear yesterday (Friday) that the country's energy purchases were driven by market forces and national interests and that they had no reports of Indian oil firms halting Russian imports," sources said. They specified that the key deciding factors include price, crude grade, inventories, logistics, and other economic considerations.

On Friday, in response to a question on India's energy needs amid the evolving global dynamics and threats from US President Donald Trump, Ministry of External Affairs spokesperson Randeep Jaiswal said that India’s position on the matter remains clear and is guided by market dynamics and national interest.

"On the specific question of energy, you are well aware of our position, what is our approach towards sourcing energy requirements. It is based on what is there on offer in the markets and also on the prevailing global situation," Jaiswal said.

India is the biggest buyer of seaborne Russian crude and the report said the country's state refiners -- Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery Petrochemical Ltd -- have not sought Russian crude in the past week or so. This came as the US exerted geopolitical pressure on countries continuing to purchase Russian oil.

The government has defended New Delhi’s long-standing ties with Moscow, describing it as a 'time-tested partnership,' while also reaffirming the strength of the India-US relationship.

“India and Russia share a steady and time-tested partnership,” said Jaiswal, and expressed confidence that bilateral relations with the US would continue to move forward despite current tensions.

On July 30, US President Donald Trump announced a 25 per cent tariff on Indian goods and warned of potential penalties over India's purchase of Russian arms and oil. Immediately after the tariff announcement, Trump launched a blistering attack on New Delhi’s ties with Moscow, dismissing both countries as “dead economies” and bluntly stating that he “does not care” what India does with Russia.

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