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India's state-owned refiners have reduced Russian crude imports by more than 45% between June and September, The Hindu reported, citing Kpler data.

Naveen Das, senior crude oil analyst at Kpler, said they took 600,000 barrels/day (kb/d) of oil from Russia in September, a "fairly substantial" cut from 1.1 kb/d they took in June this year. The reduction comes amid US pressure, including tariffs tied to Russian oil purchases.

According to Das, after Ukrainian drones attacked Russian oil infrastructure in September, concerns arose about the stability of exports.

"It is conceivable that there has been some production drop in Russia. As such, lower availability of Russian oil would increase the price, and mean that India receives lower discounts and that there is simply less Russian oil to buy on the market," he said.

Despite the cuts by state-run companies, private refiners Reliance Industries and Russia's Rosneft-backed Nayara Energy have increased their uptake. According to Kpler data, Reliance Industries now imports 850 kb/d of Russian oil - double its January levels - while Nayara imported nearly 400,000 bpd in October, its highest this year.
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