Russia Aims to Revive Oil Exports to India Amid Sanctions Challenges

In a recent statement, Kremlin spokesperson Dmitry Peskov expressed optimism about Russia's ability to increase oil exports to India, despite facing challenges from Western sanctions. He emphasized that the current decline in trade is temporary and highlighted the mutual benefits of energy cooperation between the two nations. Peskov also addressed the need to secure trade from external pressures and discussed the ongoing efforts to balance the trade relationship, which currently favors Russia. As India navigates its imports amidst sanctions, the future of this partnership remains a focal point.

By Narendra Chaudhary Dec 2, 2025, 21:24 IST

Kremlin's Optimism on Oil Trade with India

New Delhi: Russia is optimistic about increasing its oil exports to India, viewing the recent downturn caused by Western sanctions as a temporary setback, according to Kremlin spokesperson Dmitry Peskov.

During a virtual press briefing organized by a Russian news agency, Peskov stated, "There may be minor fluctuations in oil trade volumes for a short duration."

Ahead of President Vladimir Putin's upcoming visit to India, he emphasized that Russia continues to provide energy to India at competitive rates, highlighting the mutual benefits of this relationship.

Peskov criticized the sanctions imposed by the US and Europe as unlawful, asserting, "We reject these restrictions and are committed to maintaining our trade and ensuring a steady supply of oil and oil products. We are managing this quite effectively."

He expressed hope for continued opportunities to uphold the rights of both sellers and buyers in the oil market, stating, "We are working to create an environment that supports these rights."

Peskov also mentioned that discussions between the leaders of Russia and India would address securing trade from external pressures and payment methods.

Following the Ukraine conflict, India emerged as the largest buyer of Russian seaborne oil, but has recently reduced its crude imports due to US sanctions on major Russian firms like Rosneft and Lukoil. Europe has also implemented sanctions on petroleum products derived from Russian crude.

In October, Reliance Industries announced its intention to adhere to EU regulations regarding the import of refined products linked to new sanctions on Russian crude oil exports.

The company stated, "We will fully comply with any guidance from the Indian Government on this matter, as we always have."

Mangalore Refinery and Petrochemicals Ltd and Hindustan Petroleum Corp have ceased purchasing Russian oil, while Indian Oil Corporation has placed orders for Russian oil from non-sanctioned sources.

For the fiscal year 2023–24, bilateral trade between India and Russia reached $65.70 billion, with Indian exports valued at $4.26 billion and imports at $61.44 billion.

Addressing the trade imbalance, Peskov acknowledged that Russia sells significantly more to India than it buys, stating, "We recognize this imbalance and are aware that our Indian partners are concerned. We are actively seeking ways to increase imports from India to Russia."