India may cut Russian oil imports 2025 as US, EU sanctions bite

India may curb Russian oil purchases as US and EU tighten sanctions, complicating payments, shipping insurance, and price-cap compliance. Refiners could pivot to Middle East grades, raising costs as Urals discounts narrow. Analysts see potential pressure on the rupee, inflation, and fuel prices, while Delhi balances energy security with geopolitics ahead of OPEC+ moves and expected policy guidance to markets.