Indian refiners set to sharply cut Russian crude imports after U.S. sanctions

India’s major oil refiners—including Reliance Industries Ltd and state-owned entities—are poised to significantly scale back purchases of Russian crude following new U.S. sanctions on two of Russia’s largest oil producers. India imported about 1.7 million barrels per day from Russia in the first nine months of 2025. Industry sources caution a switch to non-Russian oil will come at a cost due to higher spot prices. The development also ties into ongoing U.S.–India trade deal negotiations, where oil imports remain a sensitive leverage point.