Overview
- The Petroleum Planning and Analysis Cell instructed refiners to submit weekly import data covering Russian and U.S. crude, according to Reuters.
- Government officials said refiners have not been told to cut Russian purchases, though imports are expected by sources to slip below 1 million barrels per day in the coming months.
- Kpler and industry data show Russian crude inflows to India fell to roughly 1.2 million barrels per day in December, down from a peak near 2 million in June.
- The move follows U.S. pressure over India’s Russian oil buying, with President Donald Trump raising tariffs on Indian goods to 50% in 2025.
- Since 2022, India has been the largest buyer of discounted Russian seaborne oil, a trade now reshaped by sanctions on major Russian exporters such as Rosneft and Lukoil.