In a significant shift in oil procurement strategy, Indian refiners have decided to skip Russian oil purchases for the upcoming months of March and April. This decision involves major players such as Indian Oil Corp, Bharat Petroleum, and Reliance Industries, which have already scheduled some Russian oil shipments but are now forgoing new offers. The change is perceived as part of a broader effort to strengthen trade relations with the United States.

The context of this decision ties back to a recent trade agreement announced by U.S. President Donald Trump, who issued an executive order on February 2 that abolishes the 25% tariff on oil imports imposed on India last August due to its purchases from Russia. The expectation is that India is aligning its energy strategies in response to U.S. expectations, as the executive order indicates that New Delhi has agreed to curtail its purchase of Russian oil.

While a joint statement from the U.S. and India regarding the trade framework did not explicitly mention Russian oil, the implications of this decision are substantial for India's energy security and its diplomatic relations. The refiners' shift could signify a reorientation towards sourcing oil from other global markets, which might lead to increased dependence on U.S. imports or alternatives in the Middle East. As the situation develops, it will be crucial to monitor how this aligns with India’s long-term energy strategy and geopolitical stance in the region.