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No Reason to Believe India Has Changed Stance on Purchasing Crude Oil: Russia’s Foreign Ministry

Russia’s foreign ministry asserted that India has not altered its policy on buying Russian crude, emphasizing the mutual benefits of the trade. However, Indian import data for January 2026 shows a 40.5% drop in total merchandise from Russia, with crude oil accounting for roughly 80% of that decline. The reduction follows statements from Indian refiners, notably Reliance Industries, that they are not expecting Russian deliveries. Meanwhile, the United States continues to claim India has agreed to cease Russian oil purchases, linking the issue to recent tariff negotiations.