US Claims India Stopped Russian Oil Buys: Is it True Amid Trump Tariffs?

World
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Moneycontrol•21-01-2026, 15:24
US Claims India Stopped Russian Oil Buys: Is it True Amid Trump Tariffs?
- •US Treasury Secretary Scott Bessent claimed India stopped buying Russian oil due to Trump tariffs and penalties, a claim echoed by Donald Trump.
- •Analysts and energy trackers question Bessent's assertion, suggesting recent dips are market-driven adjustments, not a policy shift.
- •India's energy security strategy prioritizes price, availability, and long-term demand, importing nearly 90% of its oil needs.
- •Russia became India's largest oil supplier post-Ukraine war due to heavy discounts, with imports reaching nearly two million barrels per day by mid-2025.
- •Despite a recent decline in December, Indian officials maintain their decision to buy Russian oil is based on national interest and affordability, not political pressure.
Why It Matters: US claims of India halting Russian oil purchases are disputed; India's energy strategy prioritizes economic factors.
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