No word from India on halting oil imports: Russia

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Russia on Tuesday said it had not received any communication from India about stopping purchases of Russian crude oil, contradicting claims by US President Donald Trump that Prime Minister Narendra Modi had agreed to halt such imports as part of a broader trade understanding with Washington.Kremlin spokesman Dmitry Peskov said Moscow was unaware of any decision by New Delhi to discontinue buying Russian oil and underlined that Russia intended to continue developing its relations with India “in every possible way”, according to Russian media reports.“Moscow has not yet received any statement about India halting purchases of oil,” Peskov was quoted as saying by RT news.His remarks came a day after Trump claimed that India had agreed to stop buying Russian oil and instead increase purchases from the US and, “potentially, Venezuela”, while announcing a trade deal that would see reciprocal US tariffs on Indian goods reduced to 18 per cent. While confirming the tariff reduction, Prime Minister Modi did not make any reference to oil imports or any commitment on Russian energy purchases. Echoing the Kremlin’s position, Russian Deputy Prime Minister Alexander Novak said Moscow was aware only of India’s public statements on the issue. “Let’s see how the situation develops,” Novak said, adding that Russian energy resources remained in demand and that supply would continue to find buyers as long as market balance was maintained.Indian officials have previously maintained that crude oil purchases are driven by commercial considerations rather than political directives. In January, India acknowledged that imports of Russian oil were expected to decline as “refiners diversify sourcing”, but described the trend as “market-driven”.India, the world’s third-largest oil importer, had emerged as a major buyer of discounted Russian crude after western nations curtailed purchases following Russia’s invasion of Ukraine in February 2022.At its peak, Russian oil accounted for nearly 40 per cent of India’s crude imports. In December, Russia supplied about 25 per cent of India’s crude oil imports, down from 35 per cent in November, according to a report by the Centre for Research on Energy and Clean Air.The Kremlin’s comments add to the uncertainty surrounding Trump’s claims on India’s energy commitments, with neither the Ministry of External Affairs nor the Petroleum Ministry issuing any confirmation so far.

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