India is free to purchase oil from other countries : Russia

Moscow (Russia) – Russia has not received any official communication from India regarding stopping the purchase of Russian oil; however, India is completely free to buy crude oil from any country. Russia has never been India’s sole energy partner, and changes in supply cannot be considered unusual or wrong. This response was given by Dmitry Peskov, spokesperson for the Office of the President of Russia, while commenting on reports suggesting that under an India–US agreement, India may buy oil from the United States instead of Russia.

Oil purchases are beneficial for both countries

Russia’s Ministry of Foreign Affairs spokesperson Maria Zakharova stated that continuing hydrocarbon trade between Russia and India is beneficial for both countries. It helps maintain stability in the global energy market.

American oil is of inferior quality: Russian Experts

On the other hand, Russian energy analysts have said that completely replacing Russian crude oil is not practical for Indian refineries. Igor Yushkov, an expert from the National Energy Security Fund, explained that American oil is mostly of inferior quality, whereas Russia supplies India with heavy, sulfur-rich Urals crude, which is suited to Indian refineries. If India were to import American oil, it would have to blend it with other grades, which would increase costs.

It is difficult for the US to supply oil on the scale Russia does

Energy expert Igor Yushkov also noted that Russia supplies India with 15 to 20 lakh barrels of oil per day, which is a very large volume. It would not be easy for the United States to supply oil to India on such a massive scale. The US does not have the capacity or an established supply chain that could be adjusted so quickly and at such volumes. If India were to suddenly stop buying oil from Russia and attempt to source it entirely from the US or elsewhere, it would be difficult for the US to make such large quantities available. This could lead to shortages in India or a sharp rise in prices.

If Russian oil stops, prices will rise

Yushkov said that the situation is not so simple, and that Trump may merely be trying to project a political victory. In 2022, when Russia launched its military operation in Ukraine, Western countries reduced or stopped purchasing Russian oil.

Russia then redirected its oil supplies from Europe and the US to countries like India. During this period, Russia reduced oil production by approximately 10 lakh barrels per day. This led to a decline in global oil supply. With higher demand and lower supply, crude oil prices worldwide rose to as high as 120 dollars per barrel.

As a result, petrol and diesel prices in the United States reached record highs, forcing ordinary people there to face severe inflation.