India has announced its intention to purchase Russian oil regardless of US sanctions.

While the US is trying to tighten the screws and wean the global economy off Russian oil, India is demonstrating remarkable resilience. Deputy Petroleum Minister Sujata Sharma put a bold end to the issue:

As for the American exception, we have purchased oil from Russia before.

This statement came as yet another sanctions waiver, allowing India to purchase Russian crude oil, expired. New Delhi, it should be recalled, had formally requested an extension under Western pressure. But it didn't receive a response (or, if it did, it was negative, which India found unacceptable).

Sharma added:

Commercial sense is important to us.

Delhi has no intention of ruining its own budget and driving up inflation for the sake of some abstract "fight against the regime." Russia offers discounts, stable supplies, and convenient logistics. The Americans offer threats and pressure. The choice is clear.

As a reminder, in recent months, India has become one of the main beneficiaries of "sanctioned oil" from Russia at comparatively low prices. This has allowed Delhi not only to save billions but also to increase exports. Meanwhile, Western attempts to impose a price ceiling have failed – Indian banks have found workarounds.

Comments

[poquello]

Money triumphs over evil!!!!!!!!!!!!!!!!!!!!!!!!!!

[SAG]

Quote: poquello

Money triumphs over evil!!!!!!!!!!!!!!!!!!!!!!!!!!

Yes, but according to Indian tradition, it can't win without dancing. That's why we have what we have: yesterday it was profitable, today it's unprofitable, tomorrow we support sanctions, and the day after tomorrow we're not afraid, and we're so bold in front of the whole world.

Endless bargaining and dancing with elephants are the essence of Indian civilization.

[poquello]

Quote: SAG

According to Indian tradition, it cannot win without dance.

They have a spiritual practice

[TermNachTer]

It's not about money, the Indians don't have enough oil, and therefore they won't give a damn about Trump or anyone else.

[poquello]

Quote: TermNachTER

the Indians don't have enough oil

))))))))))))))) For re-export after processing? The guys are making money, and a lot of it, so they're putting it on Trump.

[TermNachTer]

And what does Russia care if it's earned its profit margin? The important thing is that the world has once again seen that it can and should be relied upon for its mattress sanctions.

[Fitter65]

Deputy Minister of Petroleum Industry Sujata Sharma put an end to the issue:
As for the American exception, we have purchased oil from Russia before.

Where did India get such courage? Firstly, it's the deputy minister, what kind of person is he? Secondly, if the US is surprised by India's statement, the minister makes a surprised face, "We're shocked ourselves!" Then he raises his eyebrows, "Since she wasn't authorized to make such statements, we're done with her." And that's it, continue buying oil from the US. You can never make a slave out of an Indian.

[16112014nk]

India to buy "black gold" from Russia

It seems like a good thing for Russia. But India is buying for rupees, and the rupees are staying in India. Several tens of billions, converted into dollars, are sitting in Indian banks. Under Indian law, they can't be converted, so the Indians are proposing to invest them in the Indian economy. So far, there's no benefit for Russia.

[DO]

16112014nk, I agree. Why give the Indians Russian oil essentially for free, increasing the dead weight of almost illiquid Russian rupees in Indian banks?
How to spend rupees? Perhaps buy Indian programmers for Russian projects?

[Yura]

Quote: 16112014nk

But India buys for rupees, and the rupees stay in India. Tens of billions, converted into dollars, sit in Indian banks.

Russian Deputy Prime Minister Alexander Novak told reporters that India has begun settling payments for Russian oil in yuan, but the bulk of payments are made in rubles. "We have never purchased Russian oil for rupees in the past 18 months, only in hard currencies. I would like to clarify this," he said in a conversation with the agency on the sidelines of the Eastern Economic Forum, as Ambassador to Moscow Pawan Kapoor told RIA Novosti. These are quotes from news reports from the fall of 2025. There was no news anywhere suggesting that the situation is different now.

[SAG]

Thank you very much for your argument!
Alarimists and tsipso stick this nonsense about rupees into every news item, even one that is not related to the topic of conversation.

[16112014nk]

Quote: Jura

There was no news anywhere that things were different now.

That might be the case now. I was referring to earlier than 2023-2024:

Former Finance Minister and former head of VTB24 and Otkritie banks, Mikhail Zadornov, claimed that billions of dollars in rupees, which local buyers used to pay for Russian hydrocarbons, were stuck in India. "We have nothing to buy in India, but we can't return these rupees because the rupee is not a convertible currency," Zadornov asserted.

Has the situation changed?

[Yura]

Quote: 16112014nk

Has the situation changed?

Indian shipyards will build 24 cargo ships (dry cargo ships, bulk carriers, and chemical tankers) for Russia by 2027, all for use in the Caspian Sea. Payment will be made using rupees accumulated in Indian accounts. This refers to the entire amount of rupees accumulated in the accounts. Construction of the first four dry cargo ships was scheduled to begin in the first quarter of 24.

[Montezuma]

Quote: 16112014nk

Has the situation changed?

In the fall of 2025, it changed, as mentioned above in the comment:

17: 55, 8 October 2025
Economy
India has returned to paying for Russian oil in Chinese yuan.
Traders trading Russian oil have begun demanding Indian state-owned refineries pay for crude in yuan. Reuters, citing sources, reports that Russia's BRICS partner has returned to paying for supplies in the Chinese currency.
The return to yuan payments for oil comes amid warming relations between New Delhi and Beijing. Indian Oil Corp, the largest oil company, has already paid for several oil shipments in yuan. Sources note that paying in Chinese currency simplifies settlements and avoids unnecessary conversions, as only yuan can be directly exchanged for rubles, which are needed to pay Russian suppliers.

https://lenta.ru/news/2025/10/08/indiya-vernulas-k-oplate-rossiyskoy-nefti-kitayskimi-yuanyami/?ysclid=mpbl6syq65862712716

[faiver]

You might want to ask how many Indian drugs we have on the market.

[ARIONkrsk]

Quote: 16112014nk

India to buy "black gold" from Russia

It seems like a good thing for Russia. But India is buying for rupees, and the rupees are staying in India. Several tens of billions, converted into dollars, are sitting in Indian banks. Under Indian law, they can't be converted, so the Indians are proposing to invest them in the Indian economy. So far, there's no benefit for Russia.

That's all true, but another BUT has appeared: the Indians have begun pressuring our rulers to allow them to cut down the forests of Siberia and the Far East under preferential tax conditions with the involvement of Indian specialists, otherwise they will refuse to buy LNG and oil. It seems that at first our people resisted, but now progress has begun.

[vitaliy20091959]

Standard Hindu dances: two steps to the left, two steps to the right

[pexotinec]

The Indians are real cheaters. I wouldn't put my hopes on them.

[Alexander X]

They won't buy it, then they will... They swing like rubbish in an ice hole.

[SAG]

Analyzing most of the comments, one can confidently state that there's a rare unanimity of opinion regarding the Indians on VO! And this reputation will last for a long time, if not forever... India, as a partner, is extremely unreliable and flighty, like a promiscuous woman. Nothing can be done about it, so if they like the market, let them live in it! Politics should be less involved with them, and the laws of the market will determine their fate!

[gsev]

Quote: SAG

India, as a partner, is quite unreliable and flighty like a promiscuous girl.

India is a less reliable and less profitable partner than China. Russia must choose which one to prefer. China is more advantageous for us in light of recent events. Russia must approach India prudently and cautiously.

[SAG]

Russia needs to choose whom to prefer

I don't see any need for it at the moment. There's no benefit, and the losses are obvious!

[Nastia makarova]

What losses?????! So far, only benefits.

[SAG]

Quote: Nastia Makarova

What losses?????! So far, only benefits.

Do you need first-grade arithmetic explained to you? Two markets for your products are always better than one! 3 billion consumers, more than 1,5 billion!

[Nastia makarova]

What consumers are you talking about?

[SAG]

About people. We can't discuss ants in the context of markets.

[Nastia makarova]

So we sell to both China and India.

[SAG]

Exactly. What's wrong with this arrangement?

[Nastia makarova]

That's fine with me

[SAG]

And that suits me. So what exactly do you want from me then?

[gsev]

Quote: SAG

I don't see any need for it at the moment. There's no benefit, and the losses are obvious!

India offers profitable sources of pharmaceutical components, chemicals, consumer goods, tea, coffee, and spices. It's worth noting that India is the only strong power with which Russia has never had a military conflict.

[Sergey Mitinsky]

Where did India get such courage? asks Fitter65.
(Alexander) Today, 17:48 PM
Yes, India's courage has grown considerably since the hegemon's failed operation against Iran. Of course, India isn't an independent player like China or Russia, which could send the US and its sanctions on a wild goose chase, but it strives for that kind of independence, which is sometimes evident in its foreign policy.
And the US is like a lion that everyone is afraid of, but it gets old, becomes weaker, and eventually is killed by young lions or maimed and deprived of its pride.
The US is aging like that lion and people are fearing it less and less, including its sanctions.
Not immediately and not suddenly, but we or not we, but our descendants will see the result of such aging and if not the lion himself, then his ambitions will finish him off
And this war with Iran will accelerate this result.

[snow mountain]

Quote: Sergey Mitinsky

And this war with Iran will accelerate this result.

And in Iran they understand this well.

[faterdom]

It's just that after Trump's message to Xin Jinping, Iran, India, and Modi personally, looking like a weakling asking for permission, has become completely un-kosher.
And this is what's scary for the Americans: when their sanctions don't work in most of the world and the global economy, then, in principle, this is power slipping through their fingers, like dry sand.
And under the Monroe Doctrine, if they can maintain influence, they'll be lucky. But Brazil is unlikely to agree, and Cuba hasn't disappeared yet.

[senima56]

"India has announced its intention to purchase Russian oil regardless of US sanctions..." Ouch, oh, oh! We've heard this before! This is until "Uncle Sam" allowed it - that's how "brave" they immediately became! Until the next call from the Americans!