Russia reacts after Donald Trump says India stopped importing crude oil from Moscow

The Russian official has said that there is nothing new about India’s decision to diversify its crude suppliers and India is free to buy oil from any country.

trump putin modi — Russia issues first statement after India-US trade deal, says ‘no word on India stopping oil purchase’

New Delhi: Days after India-US announced their trade deal where US President Donald Trump claimed that India had stopped buying Russian oil, Russia has shared its first reaction. In his recent statement, Russian Press Secretary Dmitry Peskov has said Russia is not the only supplier of oil and petroleum products to India.

Adding New Delhi has purchased oil from other countries, the Russian official has said that there is nothing new about India’s decision to diversify its crude suppliers and India is free to buy oil from any country.

“We, along with all other international energy experts, are well aware that Russia is not the only supplier of oil and petroleum products to India. India has always purchased these products from other countries. Therefore, we see nothing new here,” Kremlin Spokesman Dmitry Peskov said while responding to a question.

He was asked about US President Donald Trump’s claim that Prime Minister Narendra Modi had agreed to stop buying Russian oil and switch to purchasing crude from the United States and, potentially, from Venezuela.

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A day earlier, Peskov said that Russia has not received any statements from India regarding the cessation of Russian oil purchases.

Foreign Ministry Spokesperson Maria Zakharova on Wednesday said that the hydrocarbons trade is beneficial for both India and Russia.

“We remain convinced that India’s purchase of Russian hydrocarbons is beneficial to both countries and contributes to maintaining stability in the international energy market. We are ready to continue close cooperation in this area with our partners in India,” Zakharova said at a press briefing.

Private Kommersant FM business radio noted that, unlike President Trump, PM Modi did not mention any agreement on stopping Russian oil imports.

Igor Yushkov, a leading expert at the National Energy Security Fund, said that Indian refiners cannot fully stop the import of Russian crude.

“The American shale oil they export is light grades, similar to gas condensate. Russia, on the other hand, supplies relatively heavy, sulfur-rich Urals. This means India will need to blend US crude with other grades, which incurs additional costs, meaning a simple substitution won’t be possible,” he said.

(With inputs from agencies)