India’s imports of Russian crude oil are expected to fall sharply in January after Reliance Industries said it is not anticipating any deliveries during the month. The statement, issued on Tuesday, signals a potential decline in India’s Russian oil purchases to their lowest level in years.
Reliance, which operates the world’s largest refining complex at Jamnagar and was India’s biggest buyer of Russian oil last year, said it has not received any Russian cargoes for about three weeks. The company also denied reports that vessels carrying Russian crude were en route to its refinery.
The move follows renewed pressure from Washington after U.S. President Donald Trump warned on Sunday of possible further tariff hikes on India over its Russian oil imports. India had emerged as the largest buyer of discounted Russian seaborne crude after the Ukraine war began in 2022, drawing criticism from Western nations enforcing sanctions on Moscow’s energy sector.
Stricter U.S. and EU sanctions have already reduced Russian oil flows to India, with December imports falling to a three-year low of about 1.2 million barrels per day. With Reliance stepping back, January supplies are likely to be limited mainly to Nayara Energy and state-run refiners, as New Delhi seeks to ease trade tensions and advance talks with the United States.