'No reason to believe': Russia says India has not changed stance on buying oil, rejects US claims
Times of India
by TOI BUSINESS DESKFebruary 19, 2026
AI-Generated Deep Dive Summary
Russia has strongly rejected US claims that India is reducing its purchase of Russian oil, asserting that there is "no reason to believe" India has altered its stance on importing Russian hydrocarbons. During a weekly briefing, Russian Foreign Ministry spokesperson Maria Zakharova emphasized that the trade benefits both nations and contributes to global energy stability. She also criticized US President Donald Trump and Secretary of State Marco Rubio for attempting to dictate policy to independent countries.
The issue gained attention following the US decision to reduce tariffs on Indian goods from 50% to 18%, removing a 25% tariff imposed in August 2023 due to India's Russian oil imports. After a phone call between Prime Minister Narendra Modi and President Trump, US officials claimed India had agreed to stop buying Russian oil. However, India has remained silent on these claims, neither confirming nor denying them.
India's energy procurement decisions are guided by "national interests," as stated by the Ministry of External Affairs (MEA). Russia accused the US of using tariffs, sanctions, and direct prohibitions to prevent countries from purchasing Russian oil. Meanwhile, data shows a shift in India's crude sourcing pattern, with Russian oil imports dropping to their lowest levels in over two years.
In January 2024, Russian oil accounted for just 21.2% of India's total imports, the smallest share since late 2022. This decline comes as India increasingly turns to Middle Eastern and Latin American suppliers, with Saudi Arabia regaining its position as India's leading oil supplier. Analysts predict that Russian oil flows to India will continue to decline in the coming months.
Russia remains a key player in the global energy market, but tightening Western sanctions and growing US trade engagement have impacted its exports. China has now overtaken India as Russia's largest seaborce crude buyer. Despite this shift, India continues to emphasize its policy of "strategic autonomy" in energy procurement, balancing relationships with both Western countries and others like Russia and OPEC members.
This situation highlights the complex dynamics of global energy markets and geopolitical tensions. As India navigates its energy needs while managing relationships with multiple nations, the implications for global energy stability and trade relations
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Originally published on Times of India on 2/19/2026