India’s major refiners are preparing to sharply cut their purchases of Russian crude, following new U.S. sanctions targeting Moscow’s top energy producers, Reuters reported Thursday, citing industry sources.

“There will be a massive cut,” one refinery source was quoted as saying.

The move marks the first significant pullback by India, Russia’s largest buyer since 2022, as companies brace for potential disruptions in supply chains and payment channels.

India’s largest buyer of Russian oil, the privately owned Reliance Industries, reportedly plans to scale back or even temporarily halt its Russian imports. 

“Recalibration of Russian oil imports is ongoing and Reliance will be fully aligned to [government of India] guidelines,” a Reliance spokesman told Reuters when asked about the cuts.

At least four state-run refiners are also reviewing shipping and trade documents to ensure no cargoes arrive directly from Rosneft or Lukoil, the two Russian giants newly sanctioned by the U.S.

Reliance has long-term supply agreements with Rosneft for nearly half a million barrels a day.

The five companies and India’s oil ministry have not responded to Reuters’ requests for comment.

The U.S. Treasury on Wednesday gave global buyers until Nov. 21 to wind down dealings with Rosneft and Lukoil under the new sanctions. 

Russia’s discounted oil has been a cornerstone of India’s energy strategy since Western sanctions upended global supply in 2022, with imports averaging 1.7 million barrels per day in the first nine months of 2025.

But that reliance has become a sticking point in U.S.-India trade talks, with Washington linking new tariffs on Indian goods to continued Russian purchases.

(c)THE MOSCOW TIMES 2025