India resumes Russian oil imports despite US tariffs and criticism

India’s state-run oil refiners have resumed buying Russian crude after a brief pause, despite facing higher US tariffs and criticism from American officials.

Traders familiar with the matter, who requested anonymity as they were not authorised to speak publicly, told Bloomberg that Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) purchased several cargoes of Russian Urals crude over the past two days. These shipments are scheduled for loading in September and October.

Earlier this month, India’s state refiners had temporarily halted purchases of flagship Urals crude under pressure from the United States.

In late July, the Indian government instructed refiners to develop contingency plans to shift away from Russian oil should supplies be disrupted, a move described by one official as scenario planning.

US officials have criticised India’s renewed purchases. White House Trade Adviser Peter Navarro wrote in the Financial Times that the surge in Russian oil buying was driven by “profiteering by India’s Big Oil lobby” rather than domestic demand.

Similarly, US Treasury Secretary Scott Bessent said on August 19 that India’s wealthiest families were benefiting from purchases of Moscow’s crude and reaffirmed plans to increase tariffs on New Delhi.

By Tamilla Hasanova