Kremlin Views India's Russian Crude Import Slowdown as Temporary
Kremlin spokesperson Dmitry Peskov stated that a recent slowdown in India's crude oil imports from Russia is expected to be temporary, with Moscow planning to increase supplies despite Western sanctions. India, the world's third-largest oil consumer, reduced Russian crude purchases this month due to U.S. and European pressure. While some Indian refiners paused imports, others like Indian Oil Corp and Bharat Petroleum are arranging new orders, and Nayara Energy continues processing Russian crude, supported by the Kremlin.
Kremlin spokesperson Dmitry Peskov has indicated that India's recent reduction in crude oil imports from Russia is anticipated to be short-lived. Despite Western sanctions, Moscow intends to boost its energy supplies to New Delhi. India, a major global oil consumer, saw its Russian crude imports drop this month to a three-year low, influenced by pressures from U.S. and European sanctions. Peskov confirmed that Russia remains a crucial energy partner for India and that mechanisms for trade not impacted by third-country sanctions are being established to maintain deliveries.Several Indian refiners, including Mangalore Refinery and Petrochemicals Ltd, Hindustan Petroleum Corp, and HPCL-Mittal Energy Ltd, temporarily halted Russian oil purchases. However, state-run Indian Oil Corp has already placed orders with non-sanctioned Russian entities, and Bharat Petroleum Corp is in advanced discussions to resume imports. Nayara Energy, which is partly owned by Russia's Rosneft, continues to exclusively process Russian crude, with Peskov emphasizing Russia's expectation for India to support Nayara's local processing efforts. These statements come ahead of Russian President Vladimir Putin's summit visit to India, where discussions with Prime Minister Narendra Modi are expected to focus heavily on energy and trade relations.
