Crude Oil Price Jumps: Crude oil prices have seen a rise following new US sanctions against Moscow’s major oil companies and reports of a review by Indian oil companies on purchasing cheap crude oil from Russia. According to Reuters report, an increase of about 3 percent was recorded in the price of crude oil on Thursday.

According to reports, America, which is trying to stop the Ukraine war, has imposed sanctions on two big Russian oil producing companies, Rosneft and Lukoil. After this, Indian refiners are reconsidering their plans to buy cheap oil from Moscow.

Rise in crude oil prices

Brent Crude Futures: $64.71 per barrel, an increase of $2.12 or 3.4%. While US West Texas Intermediate (WTI): $60.59 per barrel, an increase of $2.09 or 3.6%. It is noteworthy that from 2022, India is buying large quantities of crude oil from Russia. During the first nine months of this year, about 1.7 million barrels (17 lakh barrels) of oil were imported daily.

Reports say that Reliance Industries, the biggest buyer of cheap oil from Russia, has considered cutting oil purchases or stopping imports. However, most of the Indian government oil companies buy Russian oil through intermediaries, which will reduce the impact of the direct ban.

America’s new warning

America has warned that if Moscow does not agree to a ceasefire, new steps will be taken against Russia. Last week, Britain also imposed sanctions on Rosneft and Lukoil, while the European Union approved the 19th sanctions package. Under this, there will be a complete ban on Russian LNG imports. However, market experts believe that the effect of this rise in crude oil will not last long.

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Russian Deputy Prime Minister Alexander Novak said on Thursday (October 16, 2025) that Russia is confident that its energy cooperation with India will continue. This statement of Novak has come at a time when US President Donald Trump had claimed a day earlier that India had assured him to stop buying oil from Russia.

Independent news agency ‘Interfax’ quoted Novak as saying, ‘We will continue cooperation with our friendly partners. The demand for our energy resources remains. This is economically viable and practical. Novak said, ‘I am confident that our partners will continue to work with us, negotiate and develop energy cooperation.’

India’s response to Trump’s oil trade claims

Novak has made this comment in response to Trump’s claim, in which the US President had said that Prime Minister Narendra Modi has assured him that India will stop buying Russian crude oil. The US President claimed that although India will not be able to immediately cut purchases, it will definitely start doing so. Novak said, ‘All we hear in the media today is that our partners are declaring that no one can dictate to them and that they will choose their own path.’

Responding to Trump’s oil trade claims, India on Thursday said it is broadening and diversifying its energy sources to meet market conditions. India emphasized that its import policies will be completely based on national interest.

India increased oil trade from February 2022

India, traditionally dependent on West Asian oil, significantly increased its imports from Russia following the Russian military’s invasion of Ukraine in February 2022. Due to Western sanctions and reduced European demand, Russian oil is becoming available at huge discounts.

According to independent news agency ‘Interfax’, Russian crude oil exports in the first seven months of 2025 stood at 87.5 million tonnes or 36.4 percent of India’s total imports. Russian President Vladimir Putin recently said that he has ordered the government to take steps to reduce the trade imbalance with India.

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India may soon import cheaper oil from Russia and also get more consignment of S-400 missile system. Russia has offered India a discount of 3 to 4 dollars per barrel on its ural crude oil compared to Brent. Last week, this discount was around $ 2.5 and about $ 1 in July. This offer is offered for cargo loaded in the late September and October. This has been revealed in the reports on Tuesday (2 September).

On the other hand, talks are going on between India and Russia regarding the additional supply of the S-400 missile system. Russia will hand over the last two units to India by 2026 and 2027. Significantly, in the year 2018, there was an agreement of $ 5.5 billion between the two countries, under which five S-400 units were to be received. Three of these units have already been received by India.

India may soon get new consignment of S-400 air defense system

India is expected to get a new consignment of cheap oil and S-400 air defense system from Russia. It is being told that the S-400 system played a big role in India’s Operation Sindoor at terrorist bases in Pakistan and PoK in May.

Russian officer Dimitri Shugayev said that there is scope to increase cooperation in this area and negotiations are going on on new delivery. This offer has come at a time when India is facing pressure from America. Recently, President Donald Trump has imposed 50% tariff on Indian imports. Half of these tariffs have been imposed for increasing oil trade from Russia in India. According to US officials, India’s Russian oil imports have increased considerably since the Ukraine War started in 2022.

India can get more supply of oil than before

According to a report by Reuters, the oil supply to India from Russia in September may increase by 10–20%, that is, an additional 1.5 to 3 lakh barrels daily as compared to August, but America is very angry at this increasing imports. Many top officials of Trump administration have targeted India. He says that India is earning a profit of billions of dollars by purchasing cheaper oil from Russia.

What did American Treasury Secretary Scott Besant say?

American Treasury Secretary Scott Besant recently said, “Indian Arbitraj (Business to buy cheap oil and sell further) has started only during Ukraine War. It is completely unacceptable. India is making profiteering and earning billions.”

In early August, Donald Trump, while announcing 50% tariff on India, described the deals from Russia directly. He wrote on Truth social social, “India has always done a large part of its military deals from Russia and in terms of energy, he is the biggest buyer of Russia with China. While the whole world wants Russia to stop the violence in Ukraine …”

Meanwhile, the latest reports have come to light when Prime Minister Modi and President Putin met in Tianjin, China during the SCO Summit. In this meeting, the two leaders described India-Russia relations as the best and strong. Putin called PM Modi his beloved friend and said that the relationship between the two countries is moving dynamic and fast.

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Chinese President Xi Jinping made a strong statement on the world’s current situation in the inaugural session of the Shanghai Cooperation Sangathan (SCO) Summit 2025, which began on Monday (September 1). In his address, Xi Jinping said that all countries should follow the principles of justice and fairness and together oppose the antics of cold war, factionalism and pressure. During this time, he also gave a message to the leaders present at the SCO Summit- Russia’s President Vladimir Putin and Prime Minister of India, Narendra Modi and emphasized global peace and cooperation.

Why is there tension between China and America?

This statement comes at a time when tension between China and America is deepened. Under the leadership of Donald Trump, the US imposed heavy tariffs on China, causing more than 100 percent tariff trade war between the two countries. Although the agreement was reached later, the tension still remains and now its effect has reached Russia and India.

Trump is pressurizing Putin for ceasefire

Trump has recently imposed 50% tariffs on India, due to which it is to buy oil from Russia during Ukraine War. Also, Trump is constantly pressurizing Putin for a ceasefire. He met Putin in Alaska and then held a bilateral meeting with the President of Ukraine at Washington DC.

Which countries are taking part in the SCO Summit?

The SCO Summit has started from 31 August in Tianjin, China, which will last for two days. It includes China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus. Apart from this, 16 countries are connected as supervisors or dialogues partners.

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There is a situation of tension between America and India. US President Donald Trump is constantly pressurizing India. He is angry about India’s buying oil from Russia and for this reason he has also imposed 50 percent tariff. However, India has made its side clear on this matter. India has said that he will buy oil from where he will get cheaper.

India’s Ambassador to Moscow Vinay Kumar has given a clear answer to the US. He has said clearly that Indian companies will not buy expensive oil. Russia’s official agency Tass In an interview given to, he said, “Our policy is clear. Indian companies will choose the deal that will be beneficial for them. ” He said that energy security is a priority for the people of India.

Trump is pressurizing India on relief to China

The Trump administration has been criticizing India for buying crude oil from Russia at a discounted rate. Interestingly, Washington is not criticizing China, the biggest importer of Russian crude oil. Defending its purchase of crude oil from Russia, India has been saying that its energy purchase is inspired by national interest and market mobility.

The trade deal between India and America did not even talk

There was going to be a trade deal between India and America, but it has not been agreed. Trump wants India to deal with agriculture and dairy sector, but India is not ready about it. He had already said that the issues related to the farmers cannot be compromised.

External Affairs Minister S Jaishankar had recently said in the Economic Times World Leaders Forum that India will not compromise the interests of its farmers and small producers. Jaishankar had termed the American tariff wrong and said that India’s trade policy is based on the safety of domestic stakeholders.

There is a situation of tension between India and America. President Donald Trump had threatened India to increase the tariff over the case of buying oil from Russia. Meanwhile India’s National Security Advisor (NSA) Ajit Doval reached Russia on Tuesday (5 August). According to the report of ‘The Moscow Times’, there may be a deal between India and Russia regarding oil.

Russia’s news agency Tass Told that Doval can hold several meetings with Russian officials on August 7. During this time there can be a deal between India and Russia on oil. Along with this, Doval regarding India’s oil purchase Russia’s President Vladimir will clarify India’s strategy in front of Putin. The important thing is that Foreign Minister S Jaishankar can also visit Russia next week.

Why Trump threatens India to increase tariffs

Trump made serious allegations against India and Russia. He had said that India is promoting war by purchasing oil from Russia. Russia is putting it in war by earning money. Trump threatened that if India does not stop buying oil from Russia, then it will have a huge tariff. Currently, Trump has imposed 25 percent tariff on India. A trade deal is also going to be held between America and India, although it has not been finalized yet.

India, the largest oil buyer after China

India is the largest oil buyer in the world after China. He buys 35 percent of his needs from Russia only. The US earlier threatened India on the matter of buying oil from Russia. Now he is talking about increasing the tariff. Meanwhile, the good news is that India can get a discount from Russia. Russia can give discounts to India to buy oil.

US President Donald Trump last week announced additional punitive action on imposing 25 per cent high tariffs on India and doing business with Russia, causing a stir all over the world. He also said that I do not care what India does with Russia. They can further drop their dead economy. The reaction of Canadian Business Tycoon Kirk Lubimov has come about Trump’s statement.

Testband company chairman Kirk Lubimov, while criticizing Turmp’s strategy on Twitter, wrote, ‘Trump is now taking the fastest growing economy in the world to fight with India. This is a big geopolitical mistake. Lubimov believes that the importance of India is not only economic, but also to balance China’s influence in the supply chain. He suggested Trump that he should cooperate with Canada and India instead of controlling India with nail-hills so that global resources can be balanced.

I’ve said it before, and i’ll say it again;

The biggest problem with Donald Trump’s Tariff approach is that it has zero consider to geopolitical strategy.

Trump is now picking a fight with India, one of the fastest growing economies in the world with prime minister, modi, modi,… pic.twitter.com/a0i7jnom6w

– kirk lubimov (@kirklubimov) August 2, 2025

Trump described India as a dead economy

Trump not only described India as a dead economy, but also severely criticized India’s high tariff policies. He alleged that India imposes the world’s highest tariff on American goods. America’s trade with India is limited due to tariffs and restrictions. India’s trade with Russia weakens the US ban policy. This stance came at a time when India has become the second largest buyer of crude oil from Russia. Earlier this part was less than 1%, which has now exceeded 35%.

India’s response- we grow fast economy

The Government of India immediately responded to this statement based on diplomatic and facts. Commerce and Industry Minister Piyush Goyal said in Parliament that India is now the fastest growing major economy in the world and is soon to become the third largest economy in the world. According to Goyal, India’s contribution to Global GDP is around 16%. The flexible economic policies and structural reforms of the country have made India a global growth engine.

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