India’s Commerce and Industry Minister, Piyush Goyal, has clearly stated that the nation’s purchases of Russian crude oil are entirely separate from the ongoing India-US trade deal. This clarification addresses the intricate balance of India’s foreign policy and economic relations.
The US had previously indicated its intent to monitor India’s future crude oil imports from Russia, a move that accompanied its decision to lift 25% tariffs on certain Indian exports. This US initiative is part of a broader strategy to diminish Russia’s oil revenues, aiming to influence the conflict in Ukraine. When questioned on India’s response to this monitoring, Goyal deferred to the Ministry of External Affairs (MEA) and its head, S. Jaishankar. He noted that the specific meaning and any related discussions are best addressed by the foreign office, highlighting the diplomatic sensitivity of the matter.
Recent trade data illustrates shifts in India’s energy sourcing. Russian crude oil deliveries to India decreased to approximately 1.12 million barrels per day in December 2025, a notable drop from 1.2 million barrels the previous month, reaching its lowest point since November 2022. Conversely, India’s oil imports from the US surged by 31% to $569.3 million in December 2025 year-on-year. Echoing India’s commitment to diversified energy sources, the Ministry of External Affairs on February 5 confirmed New Delhi’s openness to evaluating new crude supply options, including from Venezuela. This strategy underscores India’s dedication to securing stable and reliable energy supplies for its 1.4 billion citizens, independent of specific bilateral trade agreements.