China Steps In as India Wavers in Russia’s Oil Trade

OilPrice · Natalia Katona · last updated February 6, 2026 – 2:27 PM

Russia’s oil exports came under renewed scrutiny in early February after U.S. President Donald Trump said Washington had agreed a trade deal with India that would cut tariffs on Indian goods from 50% to 18% in exchange, besides other concessions, to an end to Russian crude imports. The prospect of losing one of Moscow’s largest post-2022 buyers triggered Russian concerns over export revenues and budget stability. Yet available trade data points in the opposite direction. The numbers are clear: for Russia, hope now speaks Chinese. January…

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