India accelerates move away from Russian oil as tariffs loom
India accelerates move away from Russian oil as tariffs loom
With US tariffs in focus, India is steadily cutting Russian oil imports. September 2025 data show declines in value and volume as New Delhi pursues a longer-term diversification plan.
India is implementing a broader strategy to reduce its dependence on oil imports from Russia, a move that pre-dates and continues alongside the U.S. tariffs on Russian crude. An official and data-driven review shows the trend is structural, not merely a reaction to sanctions.
September 2025 marked the first full month during which the U.S. imposed its 50% tariffs on Indian imports, yet the data indicate that India had already been trimming Russian oil purchases for months, signaling a deliberate shift rather than a knee-jerk response to tariff policy. The government’s trade data reveal that Russian oil imports by India in September 2025 were 29% lower in value and 17% lower in volume than in September 2024. Over the eight months leading up to September 2025, India reduced the value of its Russian oil imports in eight of those ten months, with five of those months showing declines of more than 20%.
An anonymous official from the Ministry of Commerce and Industry stressed that India recognized its dependence on Russian oil growing too high and began planning a gradual reduction well before tariff changes. “The Trump tariffs have come during that time,” the official noted, underscoring that while tariffs are a factor, they are not driving policy.
Industry voices align with the longer-term view. Several Indian ministers have reiterated that diversifying energy sources is a priority, and refiners are adjusting procurement strategies accordingly. Even with the move away from Russia, some state-owned companies have cautioned that Russian crude still forms a relatively small portion of their total basket.
The larger takeaway is clear: India is pursuing a planned, long-term diversification of its oil supply, leveraging data-driven policy and government guidance to reduce exposure to a single supplier amid a shifting geopolitical landscape.
Cover image source: India, Russia intensify consultations ahead of Putin’s Delhi visit 🔗
