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Kremlin Says Russia is Clueless about India Wanting to Stop Buying Oil
(MENAFN) Russia has stated that it is not aware of any decision by India to stop buying its crude oil, according to Kremlin spokesman Dmitry Peskov.
The remarks follow US President Donald Trump’s claim on Monday that India had agreed to halt Russian oil purchases while announcing a trade agreement with the country. Although the deal includes a reduction of US tariffs on Indian imports from 50% to 18%, Indian Prime Minister Narendra Modi made no mention of ending purchases from Russia.
Peskov said Russia intends to continue expanding its relations with India across all areas. Deputy Prime Minister Aleksandr Novak echoed this, noting that Moscow is only aware of India’s public statements on oil and that energy demand typically finds a way to be met. “Let’s see how the situation develops,” he commented.
Reports indicate that Indian refiners would need time to wind down existing deals with Russian oil, and so far, New Delhi has not ordered any immediate halt to imports.
Analysts warn that a sudden stop in India’s Russian oil imports could disrupt global energy markets. Moody’s noted that while India has gradually reduced its purchases in recent months, a complete cessation is unlikely in the short term and could affect India’s economic growth.
In January, India confirmed that its Russian oil imports are expected to decline further as the country diversifies sources, but attributed this trend to “market-driven conditions.”
The remarks follow US President Donald Trump’s claim on Monday that India had agreed to halt Russian oil purchases while announcing a trade agreement with the country. Although the deal includes a reduction of US tariffs on Indian imports from 50% to 18%, Indian Prime Minister Narendra Modi made no mention of ending purchases from Russia.
Peskov said Russia intends to continue expanding its relations with India across all areas. Deputy Prime Minister Aleksandr Novak echoed this, noting that Moscow is only aware of India’s public statements on oil and that energy demand typically finds a way to be met. “Let’s see how the situation develops,” he commented.
Reports indicate that Indian refiners would need time to wind down existing deals with Russian oil, and so far, New Delhi has not ordered any immediate halt to imports.
Analysts warn that a sudden stop in India’s Russian oil imports could disrupt global energy markets. Moody’s noted that while India has gradually reduced its purchases in recent months, a complete cessation is unlikely in the short term and could affect India’s economic growth.
In January, India confirmed that its Russian oil imports are expected to decline further as the country diversifies sources, but attributed this trend to “market-driven conditions.”
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