--- title: "Trump: India will no longer buy Russian oil, Russia: No, India never said that" description: "Analysis suggests that considering the potential economic impact of completely halting oil purchases from Russia, India is unlikely to fully pivot. Although India has reduced its crude oil purchases f" type: "news" locale: "en" url: "https://longbridge.com/en/news/274924864.md" published_at: "2026-02-05T06:38:36.000Z" --- # Trump: India will no longer buy Russian oil, Russia: No, India never said that > Analysis suggests that considering the potential economic impact of completely halting oil purchases from Russia, India is unlikely to fully pivot. Although India has reduced its crude oil purchases from Russia in recent months, it is unlikely to immediately stop all purchases, which could disrupt India's economic growth After U.S. President Trump announced a trade agreement with India, there were significant differences in the interpretation of the agreement's content between Washington and Moscow. Trump claimed that New Delhi had agreed to stop purchasing Russian oil, but the Kremlin stated that it had not received any relevant statements from India. According to CCTV News, on February 2, U.S. President Trump posted on the social media platform "Truth Social" that he had reached an agreement during a call with Indian Prime Minister Modi, in which India agreed to stop purchasing Russian oil and instead buy more oil from the U.S. and possibly from Venezuela. In exchange, the U.S. would reduce its main tariff on India from 25% to 18% and cancel the additional 25% punitive tariff imposed last summer due to India's purchase of Russian oil. In response, according to CCTV International News, Kremlin spokesperson Dmitry Peskov stated on Wednesday that Russia had not received any information from India regarding the cessation of Russian oil purchases. Russian Deputy Prime Minister and former Oil Minister Alexander Novak downplayed the potential losses, stating, "We only see public statements, and we will observe how the situation develops." Analysts generally question whether India will completely stop purchasing Russian oil, believing that such a move would have significant economic implications. ## India Remains Silent On Monday, Modi confirmed the agreement with the U.S. on social platform X, stating, "I am pleased that products made in India will now enjoy a reduced tariff of 18%," but did not mention the issue of Russian oil. The New Delhi government has yet to make any comments on whether it will stop purchasing Russian oil. Kremlin spokesperson Peskov, in an interview with RIA Novosti, stated, "We respect the U.S.-India bilateral relationship, but we also value the development of the advanced strategic partnership between Russia and India. This is the most important for us, and we intend to further develop our bilateral relations with New Delhi." Russian Deputy Prime Minister Novak appeared relatively relaxed about potentially losing Indian customers, stating, "Our energy resources are in demand, and we often see this. Supply will always find demand because balance will be maintained." ## Analysts Remain Skeptical Evan A. Feigenbaum, Vice President for Studies at the Carnegie Endowment for International Peace, stated on Tuesday, "I find it hard to believe that the Indian government would make any clear commitments regarding Russian oil. India will not simply abandon these relationships under U.S. pressure." Feigenbaum pointed out that maintaining a symbolic option to purchase Russian oil reflects India's diplomatic autonomy and its ability to resist U.S. coercion, both of which are important factors in Indian domestic politics. He noted that while there are signs that New Delhi has been gradually reducing its imports of Russian crude oil, publicly blaming Russia has always been "an impossible option" for Modi. ## Economic Impact is a Key Consideration **Moody's rating agency stated on Tuesday that considering the potential economic impact of completely stopping Russian oil purchases, India is unlikely to make a complete turnaround. "Although India has reduced its purchases of crude oil from Russia in recent months, it is unlikely to immediately stop all purchases, which could disrupt India's economic growth."** Moody's pointed out that a complete shift away from Russian oil could tighten supplies in other regions, drive up prices, and lead to higher inflation, as India is one of the world's largest oil importers. This could increase manufacturing costs and push up consumer prices. Analysts believe that due to the demand for cheap oil, the need to maintain diplomatic policy autonomy, and the desire to keep close geopolitical and defense relations with Russia, India is unlikely to completely terminate these purchases ### Related Stocks - [RUSL.UK - Lyxor MSCI Russia UCITS ETF Dist](https://longbridge.com/en/quote/RUSL.UK.md) - [RSX.US - VanEck Russia ETF](https://longbridge.com/en/quote/RSX.US.md) - [IND.US - Xtrackers Nifty 500 India ETF](https://longbridge.com/en/quote/IND.US.md) - [RUSS.UK - iShares MSCI Russia Capped Swap ETF USD](https://longbridge.com/en/quote/RUSS.UK.md) - [NDIA.AU - Nippon Life Insurance Co.](https://longbridge.com/en/quote/NDIA.AU.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 印度煉油廠 1 月份的原油加工量比上個月減少了 0.2% | 根據初步政府數據，印度煉油商在 1 月份的原油加工量環比下降 0.2%，降至每日 563 萬桶。燃料消費量也從上個月的 2171 萬噸下降至 2105 萬噸，儘管同比增長近 3%。在地緣政治動態變化和美國表示可以恢復從俄羅斯以外國家進口石油 | [Link](https://longbridge.com/en/news/276615341.md) | | 調查人員稱，烏克蘭無人機襲擊導致俄羅斯西部七人死亡 | 俄羅斯調查人員報告稱，烏克蘭無人機對俄羅斯西部一化工廠的襲擊導致七人死亡，至少十人受傷。調查委員會將此事件定性為烏克蘭軍方的恐怖主義行為，並計劃追查責任人。烏克蘭方面尚未對此作出立即回應。持續的衝突中，雙方均對各自的設施進行了跨境攻擊，導致 | [Link](https://longbridge.com/en/news/276883275.md) | | 諾瓦克表示，俄羅斯政府正在考慮為古巴提供燃料支持 | 莫斯科，2 月 25 日（路透社）- 俄羅斯政府正在討論對古巴可能提供燃料支持的提案，俄羅斯國家通訊社 RIA 週三報道，引用了副總理亞歷山大·諾瓦克的話。俄羅斯外交部在 2 月 13 日表示，莫斯科將向古巴提供幫助，包括物質援助，以幫助其 | [Link](https://longbridge.com/en/news/276894112.md) | | 普京要求俄羅斯聯邦安全局加強對能源部門的保護，並警告敵人不要過度逼迫莫斯科 | 普京總統已指示聯邦安全局（FSB）加強對俄羅斯能源和交通部門的安全防護，以應對烏克蘭的攻擊，這些攻擊據稱得到了西方情報的支持。在戰爭四週年之際，他警告稱，如果俄羅斯的對手過於激進，將面臨後果，並提到了包括破壞和暗殺企圖在內的持續威脅。普京強 | [Link](https://longbridge.com/en/news/276745712.md) | | 印度的 TCS 敦促員工使用人工智能，儘管這可能對收入構成風險，首席執行官表示 | 塔塔諮詢服務公司（TCS）正在鼓勵員工利用人工智能工具來提高效率，即使這可能影響收入。首席執行官 K·克里蒂瓦桑表示，擁抱人工智能可能會帶來更好的服務交付，儘管投資者對人工智能可能破壞傳統 IT 模式表示擔憂。TCS 的做法與 Wipro | [Link](https://longbridge.com/en/news/276855486.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.