Finance

Kremlin says it has heard no statements from India on halting Russian oil purchases

Published by Global Banking & Finance Review

Posted on February 3, 2026

2 min read

· Last updated: February 3, 2026

Add as preferred source on Google
Protesters gather in London against the ban of Palestine Action - Global Banking & Finance Review
A large crowd of protesters in London rallies against the ban of Palestine Action, holding flags and placards. This image captures the tension during the protest where over 466 individuals were arrested by police, highlighting the ongoing conflict surrounding Palestine Action and its implications.
Global Banking & Finance Awards 2026 — Call for Entries

MOSCOW, Feb 3 (Reuters) - The Kremlin said on Tuesday it had heard no statements from India about halting purchases of Russian oil after U.S. President Donald Trump said New Delhi had agreed to stop

Kremlin Denies Hearing from India on Stopping Russian Oil Imports

Kremlin's Position on Indian Oil Purchases

MOSCOW, Feb 3 (Reuters) - The Kremlin said on Tuesday it had heard no statements from India about halting purchases of Russian oil after U.S. President Donald Trump said New Delhi had agreed to stop such purchases as part of a trade accord with Washington.

Trump's Trade Deal with India

U.S. President Donald Trump announced a trade deal on Monday with India that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers.

Russia-India Strategic Partnership

Kremlin spokesman Dmitry Peskov said Russia was carefully analysing Trump's remarks on relations with India.

Asked directly if India had decided to stop buying Russian oil, Peskov said: "So far, we have not heard any statements from Delhi on this issue."

"We respect bilateral U.S.-Indian relations," Peskov told reporters. "But we attach no less importance to the development of an advanced strategic partnership between Russia and India.

"This is the most important thing for us," he said, "and we intend to further develop our bilateral relations with Delhi."

India became the top buyer of discounted Russian seaborne crude after Moscow's war in Ukraine began in 2022. That generated a backlash among Western nations that have targeted Russia's energy sector with sanctions aimed at curbing Moscow's revenues to make it harder to fund the war.

(Reporting by Dmitry Antonov; writing by Lucy Papachristou; editing by Guy Faulconbridge)

Key Takeaways

  • Kremlin denies hearing from India about stopping Russian oil imports.
  • Trump claims India agreed to halt Russian oil purchases.
  • US-India trade deal involves tariff reductions.
  • Russia values its strategic partnership with India.
  • India is a top buyer of Russian crude post-Ukraine conflict.

Frequently Asked Questions

What is the main topic?
The main topic is the Kremlin's response to claims that India will halt Russian oil imports as part of a US trade deal.
What did Trump announce?
Trump announced a trade deal with India that includes halting Russian oil purchases and reducing US tariffs on Indian goods.
What is Russia's stance on India?
Russia values its strategic partnership with India and has not heard any official statement from India about stopping oil imports.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category