India not profiting from Russian oil exports: Energy analyst slams Trump’s adviser Peter Navarro

Energy analyst Anas Alhajji has rejected US claims that Indian refiners are profiting heavily from buying Russian crude and exporting petroleum products to the West. Speaking to CNBC, he argued that the notion India is serving as a backdoor for Moscow’s oil trade is “false.”

“The US argument on India is false,” Alhajji said. “If you look at Indian petroleum exports before and after Ukraine, it’s virtually the same. So the idea that they are importing to export is not correct,” Alhajji said.

Alhajji’s remarks came in response to White House trade adviser Peter Navarro, who accused India of running a “profiteering scheme” by using discounted Russian crude to sell refined products abroad.

India has emerged as the world’s second-largest buyer of Russian crude after China, but Alhajji stressed that exports have remained stable. “Correct. It’s not a backdoor,” he told CNBC. “What we’ve seen is simply a change in the direction of trade.”

He argued that trade flows have simply been redirected following European sanctions. “Just for context, India was exporting those petroleum products to Asia, and they diverted that to Europe because the EU sanctioned itself from importing Russian petroleum products.” Meanwhile, new Middle Eastern refineries are supplying the Asian market, he noted.

‘WHY INDIA IS SINGLED OUT’

The analyst also questioned why India is being singled out when other countries maintain deep energy ties with Moscow. “Turkey’s exports of petroleum products to Europe are higher than that of India. The United States itself increased imports from Russia by 23% in the first five months of this year and still buys uranium.” “So, I believe there is more to this story than just Russian oil,” Alhajji said.

Dismissing media reports claiming that India plans to reduce Russian imports in October due to US political pressure, he pointed out that imports from Russia typically decline each October and that this trend is natural.

On the impact of sanctions, he predicted little disruption to global oil prices. “It’s like musical chairs. The only difference is that in this game there’s a chair for everyone. There will be confusion for a few days, and then everything settles.”

US tariffs on Indian goods, which took effect Wednesday, could hit industries beyond oil, including pharmaceuticals, as India supplies 40 per cent of generic drugs to the United States.

White House adviser Peter Navarro criticised India, calling the Ukraine conflict “Modi’s war” and accusing the country of indirectly supporting Russia through discounted oil purchases. The tariffs aim to pressure India over its continued imports of Russian crude despite West’s objections.

– Ends

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