Trump's India pact to make big dent in Russian oil revenue

Group 1 - The article discusses the potential impact of U.S. President Trump's pressure on India to stop importing Russian oil, which could significantly reduce Russia's oil revenue [1] - India has reduced its Russian oil imports by 22% to 1.38 million barrels per day in December 2025, marking the lowest level since January 2023, while OPEC's share in Indian imports has increased to 53.2% [1] - Russian oil prices have dropped to record lows, contributing to a budget deficit for Russia due to decreased energy revenues [1] Group 2 - If India halts Russian oil imports, Russia may need to redirect its oil to China at lower prices, which would take time and could lead to production cuts [1] - Russian oil exports remained resilient despite approximately 30,000 Western sanctions, with total exports at 4.91 million barrels per day in December, and China being the largest buyer at 2.3 million barrels per day [1] - India's refiners are expected to cut Russian oil imports in April 2026 due to maintenance at a major refinery, with future volumes dependent on the outcome of Russia-Ukraine peace talks [1]