Refining sources report that Indian Oil, Bharat Petroleum, and Reliance Industries are declining offers for Russian oil scheduled for March and April. Some March deliveries, however, were already planned. Most other refiners have halted Russian crude purchases.

This move comes as the US and India move closer to a trade pact announced last Friday. The deal, aimed to conclude by March, will lower tariffs and deepen economic cooperation.

President Donald Trump has rescinded 25% tariffs on Indian goods, citing India’s “commitment to stop directly or indirectly” importing Russian oil.

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India has not officially announced a halt in Russian oil imports. A foreign ministry spokesperson said, “Diversifying our energy sourcing in keeping with objective market conditions and evolving international dynamics is at the core of our strategy” to maintain energy security.

India became the top buyer of discounted Russian crude after the 2022 Ukraine invasion. Imports, which averaged 1.7 million bpd in 2025, have fallen.

Some refiners, like Russia-backed Nayara, may continue limited imports, but operations in April will pause due to refinery maintenance.

Sources said Indian refiners may place new orders for Russian oil only if instructed by the government. Overall, purchases have shifted toward Middle Eastern, African, and South American suppliers as Russia’s role declines in India’s crude mix.