India's Russian Oil Imports Drop to Lowest Level in Over 3 Years
Russian oil imports crashed to $2.7 billion in December 2025—a 38-month nadir—The Hindu reported, citing official trade data.
Moscow's share of India's total crude supply has plummeted below 25%, a dramatic decline from 34% just one month earlier, according to the report.
Meanwhile, American oil shipments to India surged 31% in value to $569.31 million last December compared to the previous year, with import volumes skyrocketing 58% to 1.1 million tonnes.
The steep drop follows Trump's public declaration of a trade pact in which he asserted New Delhi committed to terminating Russian oil acquisitions—a claim Indian Prime Minister Narendra Modi has neither validated nor addressed directly.
Russian officials have stated they possess no knowledge of any Indian policy shift to cease oil transactions.
A news agency reported Tuesday that Indian refineries would necessitate a transition period to conclude existing Russian oil contracts, noting that New Delhi has issued no formal directive halting imports.
Media analysis suggests Indian purchasers are unlikely to completely abandon Russian crude imminently, highlighting Moscow's geographic proximity advantage—Russian tankers reach Indian ports substantially faster than vessels from the U.S. or Venezuela—combined with persistent price discounts and reduced shipping expenses.
Venezuela's constrained daily production of merely 800,000 barrels further limits alternative supply capacity, media noted.
Indian authorities have signaled openness to evaluating commercially viable sourcing alternatives, including Venezuelan crude.
External Affairs Minister S. Jaishankar, who conducted negotiations with U.S. Secretary of State Marco Rubio Thursday in Washington, confirmed the bilateral trade agreement has entered final implementation phases and will conclude shortly.
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