Home / Business and Economy / India Defies US Pressure, Remains Top Buyer of Discounted Russian Oil
India Defies US Pressure, Remains Top Buyer of Discounted Russian Oil
8 Sep
Summary
- India largest buyer of Russian seaborne crude despite US pressure
- Russian oil trades at $2-$3 per barrel discount to Dubai crude for Indian deliveries
- August imports fell as state refiners paused purchases due to narrower discounts and high inventories
As of September 8th, 2025, India remains the largest buyer of Russian seaborne crude oil, despite pressure from the United States to stop these purchases. According to Indian Oil Corp, Russian oil continues to trade at a $2-$3 per barrel discount to Dubai crude for deliveries to India.
However, India's imports of Russian oil did see a dip in August 2025, falling to 686,850 barrels per day from the previous month's 1.34 million barrels per day. This was due to state refiners pausing purchases as the discounts narrowed and their inventories were high.
Despite the US imposing hefty tariffs on Indian exports as punishment, the Indian government has maintained that it will continue buying Russian crude as it remains economically beneficial. The country's top refiner, Indian Oil Corp, buys Russian oil from traders on a delivered basis.
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Looking ahead, Indian Oil Corp's head of finance, Anuj Jain, stated that the company is already buying Russian oil for October and November 2025, indicating that the imports are likely to continue in the coming months.
