India boosts imports of Russian oil including spot orders — Russian MFA

Coverage Comparison

Russian state news agency TASS reported two separate developments related to India's energy policy and its relationship with Russian oil exports. The first, dated March 31, quoted Russian Deputy Foreign Minister Andrey Rudenko as saying that India had increased its imports of Russian oil, including spot orders, during the period when US sanctions on such sales were temporarily lifted. The second, dated April 8, cited an unnamed source in India's government stating that New Delhi would continue purchasing Russian oil regardless of whether the US extends the sanctions exemption.

Both reports come from TASS, the Russian state news agency, which is known for reflecting official Kremlin positions. While the reports provide insight into the messaging from both Moscow and New Delhi on this issue, independent verification from other news outlets or official statements from the US Treasury Department or Indian government was not available in the materials provided.

Key Claims

• India increased Russian oil imports during the sanctions exemption period. According to Deputy Foreign Minister Andrey Rudenko, speaking to TASS after Russian-Indian inter-MFA consultations in New Delhi, India used the period starting March 12 as an opportunity to replenish depleted energy reserves. Rudenko noted that these were spot deliveries by ships that set sail before March 12, and that oil was being sold at market prices.

• The US Treasury Department lifted sanctions on certain Russian oil sales. In early March, the US Treasury Department lifted sanctions on the sale of oil and petroleum products from Russia that were loaded onto vessels before March 12. A general license issued by the Treasury's Office of Foreign Assets Control (OFAC) authorized such transactions until April 11.

• India will continue buying Russian oil regardless of US sanctions. An unnamed source in India's government told TASS that India would continue to purchase Russian oil regardless of whether the US extends the sanctions suspension. The source emphasized that India needs to ensure energy security for its people and makes decisions based on global market conditions.

• The 30-day exemption period expires on April 11. Both TASS reports noted that the exemption period for Russian oil from US sanctions expires on April 11.

• Rudenko suggested the US might extend the suspension. According to TASS, Deputy Foreign Minister Rudenko said Moscow did not rule out that Washington could extend the suspension of sanctions on Russian oil sales in order to stabilize the global energy market.

Perspectives

The two reports present a consistent picture from the Russian and Indian perspectives, but with subtle differences in emphasis.

The March 31 report quotes Rudenko framing India's increased purchases as a pragmatic response to a temporary window created by US sanctions relief. He describes India as "replenishing depleted energy reserves" and emphasizes that oil is sold at market prices, suggesting normal commercial transactions. He also broadens the context by noting that other Southeast Asian countries also have demand for Russian oil, mentioning recent tanker calls in the Philippines.

The April 8 report, based on an Indian government source, takes a more assertive tone. The source stresses that India bought Russian oil even when sanctions were fully in place and will continue to do so regardless of US policy. The phrase "they imposed this period not in our interests, but in their own interests" indicates a degree of independence from US sanctions policy and prioritizes Indian energy security above external pressures.

Neither report provides direct comment from US officials on the sanctions exemption or its potential extension. The reports also do not include any figures on the volume or value of Indian purchases, which would be needed to fully assess the scale of the increase reported by Rudenko.

Analysis

The reports highlight the ongoing energy trade between India and Russia despite Western sanctions imposed after Russia's invasion of Ukraine. India has emerged as a significant buyer of discounted Russian crude, and these latest statements suggest that the flow of oil will continue regardless of US policy decisions.

The US sanctions exemption, which expires on April 11, was designed to allow a wind-down period for existing contracts. Rudenko's suggestion that Washington might extend the exemption to stabilize global energy markets reflects Moscow's assessment of its leverage, though this remains speculative.

For India, the statements underscore its official stance of prioritizing national energy security over alignment with US sanctions regimes. The government source's comments also signal that India views US sanctions as a matter for the US government, not something that dictates India's purchasing decisions.

The situation bears watching as the April 11 deadline approaches. Whether the US extends the general license or lets it lapse will have immediate implications for Indian refiners that have been buying Russian barrels at spot prices. Meanwhile, Moscow continues to project confidence that its oil will find buyers in Asia regardless of the sanctions landscape.