India may sharply curtail Russian oil imports to avoid massive US tariffs: Report
Reliance Industries, the largest, private Indian importer of Russian crude, is planning to reduce or halt its Russian oil purchases.
- Oct 23, 2025,
- Updated Oct 24, 2025 8:34 AM IST
Indian refiners are now reportedly recalibrating their sourcing strategies and sharply curtailing imports of Russian oil to ensure compliance with US sanctions, a move expected to reshape the flow of Russian oil into India, which has emerged as the leading buyer of discounted Russian crude since 2022. This shift is underway as the country’s refiners, both state-run and private, respond to newly imposed sanctions by the United States on Russian oil companies Rosneft and Lukoil. The US Treasury has instructed companies to wind down transactions involving these producers by November 21.
According to a report in Reuters, a refinery source said there will be massive cuts. “We don't anticipate it will go to zero immediately as there will be some barrels coming into market" before the deadline, said the source.
Reliance Industries, the largest, private Indian importer of Russian crude, is planning to reduce or halt its Russian oil purchases, according to two sources familiar with the matter who told the news agency. The company, which operates the world’s largest refining complex in Gujarat, has a long-term contract to source nearly 500,000 barrels per day from Rosneft, in addition to buying through intermediaries.
"Recalibration of Russian oil imports is ongoing and Reliance will be fully aligned to GOI (Government of India) guidelines," a Reliance spokesman said in response to queries about its import plans.
State-run refiners, including Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, and Mangalore Refinery and Petrochemicals, are currently reviewing bills of lading for Russian crude scheduled to arrive after the November 21 deadline to ensure no direct supply from Rosneft or Lukoil. Indian state refiners rarely buy Russian oil directly from these companies, as most purchases are facilitated through intermediaries, according to trade sources.
Indian refiners have also begun a thorough review of trade documentation to comply with the changing regulatory landscape. Nayara Energy, where Rosneft is the largest shareholder, continues to source from the Russian oil major, though the company did not comment on future plans.
The US has become stricter on Russian oil purchases, with the Indian oil ministry yet to make a statement on the impending changes.
Indian refiners are now reportedly recalibrating their sourcing strategies and sharply curtailing imports of Russian oil to ensure compliance with US sanctions, a move expected to reshape the flow of Russian oil into India, which has emerged as the leading buyer of discounted Russian crude since 2022. This shift is underway as the country’s refiners, both state-run and private, respond to newly imposed sanctions by the United States on Russian oil companies Rosneft and Lukoil. The US Treasury has instructed companies to wind down transactions involving these producers by November 21.
According to a report in Reuters, a refinery source said there will be massive cuts. “We don't anticipate it will go to zero immediately as there will be some barrels coming into market" before the deadline, said the source.
Reliance Industries, the largest, private Indian importer of Russian crude, is planning to reduce or halt its Russian oil purchases, according to two sources familiar with the matter who told the news agency. The company, which operates the world’s largest refining complex in Gujarat, has a long-term contract to source nearly 500,000 barrels per day from Rosneft, in addition to buying through intermediaries.
"Recalibration of Russian oil imports is ongoing and Reliance will be fully aligned to GOI (Government of India) guidelines," a Reliance spokesman said in response to queries about its import plans.
State-run refiners, including Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, and Mangalore Refinery and Petrochemicals, are currently reviewing bills of lading for Russian crude scheduled to arrive after the November 21 deadline to ensure no direct supply from Rosneft or Lukoil. Indian state refiners rarely buy Russian oil directly from these companies, as most purchases are facilitated through intermediaries, according to trade sources.
Indian refiners have also begun a thorough review of trade documentation to comply with the changing regulatory landscape. Nayara Energy, where Rosneft is the largest shareholder, continues to source from the Russian oil major, though the company did not comment on future plans.
The US has become stricter on Russian oil purchases, with the Indian oil ministry yet to make a statement on the impending changes.