Trump Claims India to Stop Purchasing Russian Oil

• Donald Trump stated about India's plans to stop buying Russian oil.
• India, the largest importer of Russian oil, has suspended purchases due to sanctions threats.
• The closure of the CPC oil pipeline may be a response from Moscow to India's actions.

This is reported by RBC Ukraine, Asharq Al-Awsat.

U.S. President Donald Trump announced that he received information about India's plans to stop purchasing Russian oil. He made this statement during an interview with journalists: "I heard that India will no longer buy oil from Russia. I don't know if this is true, but it's a good step. We'll see what happens next."

India Suspends Import of Russian Oil

According to Reuters, state oil refineries in India have temporarily suspended purchases of Russian oil last week due to a reduction in supplies from Russia and Trump's threats regarding the introduction of sanctions.

Despite this, private companies, such as Reliance Industries and Nayara Energy, remain the main importers of Russian oil in India, where state-owned NPPs ensure over 60% of the total processing capacity in the country.

According to Bloomberg, prime four tankers with Russian oil are currently approaching the borders of India.

On July 31, Trump imposed a tariff on over 40 countries, with the tariff rate for India set at 26%.

India, the third-largest oil importer in the world, has become the largest buyer of Russian oil since 2022, purchasing up to 2 million barrels per day, which accounts for 2% of global supply. If India stops imports, Russia faces a decrease in revenue.

JP Morgan experts noted that if India stops purchases, it could prompt Moscow to close the CPC oil pipeline, which connects Kazakhstan with the Black Sea region. Trump also threatens to impose a 100% tariff on countries that buy Russian oil if Moscow does not sign a peace agreement with Ukraine by September 7-9.

Tags: USA/Russia/Politics/Energy