Russia-India Imports Plunge 40%: US Tariff Pressure Paying Off?

Russia-India Imports Plunge 40%: US Tariff Pressure Paying Off?

New Delhi, February 18, 2026
Sharp drop in India’s Russian imports signals trade shift. January 2026 imports fell 40.48% to $2.86 billion from $4.81 billion year-ago, driven by refiners slashing Russian crude purchases amid US pressure.

Trade Data Breakdown

Jan 2025: $4.81B imports (80% crude oil).
Jan 2026: $2.86B (-40%). Russian crude ~$2.3B, down sharply from April 2025 peak $4.73B. Coal, fertilizers, iron, pulses also impacted.

US Tariff Impact

Liberation Day Tariffs: 25% initial + 25% Russian oil penalty = 50% on Indian goods. Made US market uncompetitive.
Recent Deal: US cuts to 18% after India curbs Russian buys. Reliance confirms zero Russian crude January.

Oil Source Pivot

New Supplier: Venezuela emerges as alternative; Trump offers discounted barrels. Refiners eye Middle East too.

Ripple Effects: Affects coal, fertilizers, iron supply chains. Russia-India trade imbalance worsens as energy imports dominated ~80% imports.

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