Clarifications are asking the government in New Delhi its oil refiners Indiaa vital source of demand for Russian argon oilabout whether their purchases will be affected by Donald Trump’s latest post on social media.
On Wednesday (30.7.25), US President Donald Trumpstated that he would impose 25% tariff factor in India’s exports to the US from August 1 And he warned of additional sanctions due to Russia’s ongoing energy markets, according to Bloomberg.
“They also always bought most of their military equipment from Russia and is Russia’s largest energy buyer, along with China, at a time when everyone wants Russia to stop the murders in Ukraine. Therefore, India will pay a 25%duty, plus a fine for the above, from August 1, “Trump said.
India has emerged as the largest buyer of Russian crude oil transported by sea to European Union countries after the invasion of Ukraine in 2022.
India bought about 1.63 million barrels of Russian crude oil last year, a number that remains almost unchanged so far in 2025, according to ship monitoring data collected by Bloomberg. It is a higher load than any other country and represents about half of Moscow’s crude oil missions.
The EU has also increased pressure by declaring that it will prohibit diesel imports produced by Russian crude in refineries anywhere in the world, which has triggered India’s reaction.
India’s refineries are waiting for an answer from the Ministry of Petroleum over the flows to reach India after August 1, sources said, demanding that they be named because of the sensitivity of the issue.
The India Ministry of Petroleum refused to comment. Manufacturers believe that they can easily find alternative sources of supply if they are asked to stop transactions with Russia, but in such a scenario the import cost will increase sharply, sources said.
Any decline in Russian barrels will hit the profits of state refineries, said Prashant Vasisht, senior vice president of ICRA Evaluation Company. An increase of $ 10 per barrel at crude oil prices – which will be maintained for one year – will increase the cost of importing oil by about $ 13 to $ 14 billion, he added.