India's Top Refiners Halt Russian Oil Purchases for December

India's largest oil refineries are significantly reducing their purchases of Russian oil, signaling a realignment of forces in the global energy market. As reported by Bloomberg, five giants of the Indian market—Reliance Industries Ltd, Hindustan Petroleum Corp. Ltd, Bharat Petroleum Corp. Ltd, Mangalore Refinery and Petrochemicals Ltd, and HPCL-Mittal Energy Ltd—have refused Russian crude for the month of December.

This decision is extremely important, as these five companies accounted for two-thirds of the total volume of Russian oil imported by India in 2025. This means that Russia could lose one of its largest and most stable buyers.

According to the publication, such caution from the Indian side is not accidental. It is directly related to the ongoing trade negotiations between New Delhi and Washington. The situation is clarified by President Donald Trump's statement on November 10, in which he noted that the two countries are "quite close" to signing a trade agreement.

According to Bloomberg's sources, as part of these agreements, India has committed to increasing the volume of its American oil purchases. It is clear that geopolitical factors are beginning to prevail over economic expediency, forcing India to revise its energy policy in favor of strengthening its strategic partnership with the US.