WORLD NEWS
Kremlin spokesperson Dmitry Peskov said on Tuesday that India’s imports of Russian oil may experience only a “brief period” of decline, as Moscow plans to boost supplies using sophisticated technology to mitigate the effects of Western sanctions.
Peskov’s remarks come ahead of President Vladimir Putin’s two-day visit to New Delhi from Thursday, aimed at restoring defence and energy ties. India, Russia’s top buyer of seaborne oil, is set to reduce crude imports from Moscow this month to the lowest level in at least three years, largely due to pressure from Western sanctions targeting Moscow’s major oil producers, Rosneft and Lukoil.
“There can be, for a very brief period of time, insignificant decreases in the volume of oil trade,” Peskov said, responding to questions about the sanctions’ impact.
Russia is reportedly working to create a “necessary environment” for buyers seeking its oil. “We have deep experience in performing under the regime of these illegal sanctions,” Peskov added, noting that Russia continues to advance technologies to circumvent restrictions and will further refine these methods if sanctions persist.
Indian refiners have taken varied approaches in response. Mangalore Refinery and Petrochemicals Ltd, Hindustan Petroleum Corp, and HPCL-Mittal Energy Ltd have temporarily stopped buying Russian oil. Meanwhile, state-run Indian Oil Corp continues to purchase from non-sanctioned entities, and Bharat Petroleum Corp is in advanced negotiations to secure Russian oil.
Nayara Energy, partly owned by Russia’s Rosneft, is exclusively processing Russian oil in India after other suppliers pulled back. Reliance Industries Ltd, formerly Russia’s top Indian client, has processed precommitted Russian oil shipments and plans to continue processing cargoes arriving after October 22 at domestic-focused refineries.
Peskov emphasized that Russia wants trade with India to remain insulated from third-party pressure, including financial transactions, which is expected to be a key topic in Putin’s talks with Indian leaders.
As India navigates between its energy needs and international sanctions pressure, the strategic partnership with Russia remains a focal point in both economic and diplomatic discussions.