Trump Claims India Largely Stopped Buying Russian Oil

President Donald Trump claimed that India has largely stopped purchasing Russian oil due to U.S. diplomatic and economic pressure. This assertion follows the imposition of sanctions on major Russian oil producers Rosneft and Lukoil, which carry a transaction deadline of November 21, 2025. Major Indian refiners, such as Reliance Industries and Mangalore Refinery, have reportedly halted December orders, contributing to a projected decline in imports.

The shift comes as the Trump administration maintains 50% tariffs on Indian goods, including a 25% penalty specifically tied to Russian oil imports. U.S. Commerce Secretary Howard Lutnick defended these measures, stating the tariffs are intended to help end the war between Russia and Ukraine. While Trump described trade talks with Prime Minister Narendra Modi as going well and mentioned a potential 2026 visit to India, the Indian government has denied agreeing to cease Russian oil imports, maintaining that such purchases are a sovereign decision.

Additional pressure is evident as two sanctioned tankers, the Kusto and the Ailana, have stalled off the coast of Mundra, India. Similar trends are appearing in China, where cuts to Russian crude have led to the highest price discounts for Russian oil in Asia in one year.