August M
China’s expanding role in absorbing Russian energy exports has taken center stage as Moscow faces uncertainty in other key markets. Against this backdrop, Russia’s leadership moved to reinforce ties with Beijing.
Only later did developments involving India and the United States add urgency to the talks.
China’s central role
Russian President Vladimir Putin held what was described as an “urgent” video call with Chinese President Xi Jinping, according to Digi24.ro. During the conversation, Putin emphasized that the energy relationship with China is “strategic”.
He said Beijing has become Russia’s main buyer of oil since the start of the war, with total Chinese purchases of Russian energy exceeding $230 billion over that period. Despite a “slight decrease” in trade volumes last year, which he called “even an adjustment of indicators,” Putin stressed that Russia remains “a leader in supplying energy resources to the PRC”.
The Russian president added that Moscow is ready “to continue close coordination on global and regional issues,” highlighting the political dimension of the partnership alongside energy trade.
Signals from India
The call with Xi came amid growing uncertainty over India’s position as a buyer of Russian oil. India has been one of the largest importers of Russian seaborne crude, but its future purchases are now in question.
According to Reuters, Indian refiners have not yet received instructions to completely stop importing Russian oil and are waiting for a government decision. If such a move is taken, sources told the agency that India would need a transition period, as shipments for February and March are already under contract.
Analysts cited by Bloomberg and S&P Global indicate that Indian imports have already declined significantly compared with previous periods, though estimates vary and no official figures have been confirmed.
U.S. pressure builds
The uncertainty follows statements by U.S. President Donald Trump, who said Washington would cut tariffs for India if it waived Russian oil imports. He also suggested he might cancel additional punitive tariffs of 25% introduced over India’s energy cooperation with the Kremlin.
Bloomberg reported that oil volumes not taken by India have largely been redirected to China, which increased its imports of Russian crude to near-record levels in January.
Despite rising discounts offered by Russia, including shipments priced well below Brent, analysts at Kpler believe India is unlikely to abandon Russian oil entirely in the near term and expect imports to remain “stable” in the first quarter.
Sources: Digi24.ro, Reuters, Bloomberg, S&P Global, Kpler
