Trump announced a trade deal with India on Monday, citing that the Modi administration has agreed to halt the procurement of Russian oil. He went ahead saying that India will buy oil from Venezuela instead, which is now controlled by the US. However, BRICS member India has not made any confirmation about procuring Russian oil and has not acknowledged Trump’s major announcement.

This led to speculations that the BRICS member may continue buying Russian oil even after bagging the US trade deal. India’s leading daily newspaper, The Hindu Business Line, cited sources saying that a complete halt is “extremely unlikely” for at least three months. The oil experts cited in the newspaper on condition of anonymity said that if India halts Russian cargoes, the implications for the world’s fastest-growing economy could be “disruptive”.

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BRICS: India Might Not Stop Procuring Russian Oil

Logistics backs their claims as contracts for Russian oil shipments are typically signed 10 weeks in advance. Vessels carrying oil are at different stages of loading and transportation and will continue to be unloaded in Indian ports. Most likely, BRICS member India will continue procuring Russian oil till the end of March 2026.

Even its BRICS counterpart, Russia, said that India has not confirmed to stop buying its oil. Talking about India’s trade deal with the US and the halt of Russian oil, spokesman Dmitry Peskov said that the Modi government has not informed the Kremlin about stopping the procurement.

“So far, we have not heard any statements from Delhi on this issue,” he said. “We respect bilateral U.S.-Indian relations. But we attach no less importance to the development of an advanced strategic partnership between Russia and India. This is the most important thing for us. And we intend to further develop our bilateral relations with Delhi,“ he summed it up.