US pressure won't change India's Russian oil buying spree
India's Global Trade Research Initiative (GTRI) says the country should keep buying Russian oil, despite pressure from the US.
Ajay Srivastava from GTRI points out that grabbing discounted Russian oil has helped India keep inflation in check and steady the economy during tough global times.
He also cautions that giving in to US demands could open the door to even more unpredictable requests.
Russia now supplies over 40% of India's crude needs
India hit a new record in June 2025 by importing over 2 million barrels of Russian crude per day—making up about 40% of its total supply and overtaking Middle Eastern sources.
Private players like Reliance and Nayara are leading this charge, taking advantage of discounts after Western sanctions on Russia.
India focused on keeping its energy options open
Even with threats from former US President Trump about slapping steep tariffs on buyers of Russian oil, Indian refiners aren't too worried.
They think these threats will just shrink discounts but won't actually stop the flow.
For now, India seems focused on keeping its energy options open and looking out for its own interests.