“It doesn’t really change anything”: Ryabtsev on India’s switch from Russian to American oil
4 August 2025 15:59
India’s largest oil refiner has abandoned Russian oil and placed an order for 7 million barrels for delivery in September. Of these, 4.5 million barrels are American oil, and the rest are from Canada and the United Arab Emirates. This was reported byReuters, according to "Komersant Ukrainian".
This may indicate an attempt by New Delhi to reduce its dependence on Russian energy amid growing international pressure. Recently, the Donald Trump administration has sharply criticized India for its cooperation with Russia in the fuel sector, as well as for its participation in the BRICS.
Gennadiy Ryabtsev, an energy expert, believes that this purchase does not yet have a serious impact on the global oil market:
“It doesn’t change anything, really. Because no sanctions have been imposed on Indian or Canadian companies. The EU’s restrictions apply to oil purchased after September 1, when the producer must provide evidence that the oil products are not made from Russian raw materials.”
According to him, most large refineries buy raw materials from different sources – Russian, Saudi, Iranian, etc. That is why it is difficult to trace the origin of oil, and de facto restrictions are almost non-existent.
“There are only statements and warnings, such as from Trump or Senator Rubio, that India should stop buying Russian oil, otherwise there will be sanctions. But no one has specified what kind of sanctions,” Ryabtsev added.
In 2022-2024, India became one of the main buyers of cheap Russian oil, which the West restricted with sanctions. However, recently there has been a gradual decline in purchases from Russia amid geopolitical pressure from the United States.
