The trend follows the signing of a US law by Donald Trump that authorizes tariffs of up to 100% on major buyers of Russian energy to pressure Moscow to end the war in Ukraine. While Russian oil still accounts for over a third of India's imports, some refiners are considering cutting November deliveries to avoid the tariffs. US Secretary of State Marco Rubio and India's Subrahmanyam Jaishankar recently met in New York to discuss the fallout, while India's domestic fuel demand heads toward a record 5.4 million bpd.
Tuesday, October 20, 2026
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India Russian Oil Imports Fall 16.5% as China Buys More Crude
Commodities23 days ago
Maritime shipping disruptions and lowered exports from Black Sea ports have constrained the flow of Russian energy to New Delhi, according to Reuters. The decline in shipments results from intensified competition for crude from Chinese buyers and route security risks rather than the impact of new US punitive taxes. Russian crude imports to India fell 16.5% in August to 2.1 million bpd and could slip to 1.9 million bpd in September.
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