India is set to restrict crude oil purchases from Russia as part of an agreement with the United States that links energy imports to trade concessions, PTI said quoting sources. Due to these sanctions, other major suppliers are unwilling to engage in commercial transactions with Nayara, leaving it dependent on Russian oil sourced from non-sanctioned entities. “Nayara is likely to continue purchases of Russian oil from non-sanctioned entities in the near future,” sources said. The additional 25 per cent tariff linked to Russian oil purchases will be removed following India’s reported commitment to halt such imports. Sources said Russian oil imports have already been falling.

Source: The Telegraph February 03, 2026 15:35 UTC