“I'm not worried at all. If something happens, we’ll manage it,” said Puri.
Trump has pledged to impose sanctions in September against countries that continue to purchase Russian exports — including energy — unless the conflict in Ukraine ends within 50 days.
According to the minister, India already works with around 40 different suppliers and could easily replace volumes lost from Russia. He specifically named Guyana, Brazil, and Canada as countries that can quickly scale up exports.
Despite these reassurances, Reuters reports that Russia remained India’s largest oil supplier during the first half of 2025, accounting for 35 percent of total crude imports. Iraq, Saudi Arabia, the UAE, and the US followed.
The main appeal of Russian oil remains its steep discounts, offered due to Western sanctions already in place.
Another Russian Partner Could Exit
China, another key ally of Moscow, is also reportedly considering a reduction in Russian oil imports due to the threat of new US tariffs. These restrictions could similarly affect Turkey's oil purchases from Russia, Reuters adds.
Japan Resumes Russian Oil Imports
In contrast, Japan — a close US ally — purchased Russian oil for the first time in two years. Deliveries in June totaled over $25 million.
Russian Revenues Surge in Europe
Meanwhile, Russia’s oil revenues from the European Union hit a three-month high in May, reaching €407.4 million. EU imports of Russian crude rose by 5.5% compared to April, with Slovakia and Hungary leading the purchases.
