Reuters: Indian refineries avoid buying Russian oil for April, may hold off further

Indian oil refineries are avoiding purchases of Russian oil, which is scheduled to be delivered in April, and are expected to refrain from such transactions for even longer. About this declares Reuters, citing interlocutors in the oil refining and trade sectors.

This step could help India to conclude a trade agreement with the United States. On February 6, the two countries moved closer to reaching such an agreement by announcing a framework for a deal they hope to conclude by March, which would reduce tariffs and deepen economic cooperation.

Indian companies Indian Oil, Bharat Petroleum and Reliance Industries are not currently accepting offers to load Russian oil in March and April, according to a trader who has contacted them.

However, these refiners have already planned some deliveries of Russian oil in March, industry sources said. Also, most other refineries have stopped buying Russian oil.

The aforementioned companies and the Indian Ministry of Petroleum did not respond to requests for comment.

A spokesperson for the country's Ministry of Foreign Affairs said that diversification of energy sources, in line with objective market conditions and changes in international dynamics, is the basis of the country's strategy to ensure energy security for the country with the world's largest population.

So far, New Delhi has not announced any plans to stop importing Russian oil.

The country became the largest buyer of oil at a reduced price from Russia after Moscow's full-scale invasion of Ukraine in 2022. This provoked a negative reaction from Western countries, which imposed sanctions on Russia's energy sector to reduce the aggressor country's revenues and complicate the financing of the war.

One of India's regular buyers is the Moscow-backed private company Nayara, which uses exclusively Russian oil for its 400,000-barrel-per-day refinery. Reuters' sources said that the company may be allowed to continue sourcing oil from Russia, as other sellers have refused to cooperate after the European Union imposed sanctions on it in July.

Nayara also does not plan to import Russian oil in April due to the shutdown of its refinery for a month for maintenance, the person briefed on the matter added. The company did not respond to a request for comment.

Indian refineries can change their plans and place orders for Russian oil only on the recommendation of the government, the interlocutors said.

According to the US president Donald Trump's order, American officials will monitor and recommend the resumption of duties if India starts buying oil from Russia again.

• On February 2, the US leader announced that he had reached an agreement with Indian PM Modi on termination of oil purchases from the Russian Federation.
• The next day, Reuters' sources said that Indian refineries needed a transition period to end their current Russian oil purchase agreements, before imports are completely stopped.
• However, Bloomberg noted that crude oil supplies from Russia remain stable, despite India's reduced purchases, as China's purchases increased.
• On February 6, Trump canceled the additional 25% duty on goods from India, which he introduced in August 2025 due to the country's purchase of Russian oil.