External Affairs Minister (EAM) S Jaishankar on Thursday clarified that India is not the largest purchaser of Russian oil, countering global perceptions ahead of the August 27 deadline set by the Donald Trump administration for imposing additional tariffs on countries buying Russian energy.
“China is the biggest buyer of Russian oil. The European Union is the largest LNG importer. And several countries to the South have seen sharper trade surges with Russia since 2022,” Jaishankar told reporters.
US Oil Purchases on the Rise
The minister highlighted that India’s oil imports from the US are steadily increasing, in line with Washington’s call to stabilise the global energy market.
“Incidentally, we also buy oil from the US, and that amount has increased,” he said.
Official figures show that India’s oil and gas imports from the US surged by 51% between January and June 2025.
LNG imports nearly doubled, reaching $2.46 billion in FY 2024–25, compared to $1.41 billion in FY 2023–24.
Indian Oil Corporation, the country’s largest refiner, ordered around 2 million barrels of US crude in August for October delivery, further strengthening energy ties with Washington.
India Balances Russian and US Energy Imports
Despite the US surge, India continues to buy significant quantities of Russian oil. In August, New Delhi purchased 2 million barrels per day of Russian oil, replacing imports from Iraq amid regional geopolitical tensions, according to Kpler data.
The EAM underlined that India and Russia are also advancing cooperation in nuclear energy, fertilisers, labour mobility, and greater market access.
Meanwhile, Deputy Ambassador of the Russian Federation to India, Roman Babushkin, reassured that crude oil exports to India will remain unaffected by sanctions or trade restrictions.
He noted that bilateral trade has grown nearly sevenfold in recent years, with Russia supplying around 250 million tonnes of oil annually to India, often at an average discount of 5%.
Also Read: India-Russia Shared Goal Is To Maximise Complementarity: EAM Jaishankar In Moscow
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