(qlmbusinessnews.com . Sun 7th Sep, 2025) London, UK —
China and India Ramp Up Russian Oil Purchases, Defying US Tariffs at Tianjin Summit
Monday's summit in Tianjin, bringing together the leaders of Russia, China, and India – Vladimir Putin, Xi Jinping, and Narendra Modi respectively – signified a notable united front, presenting Putin with a prime opportunity to deepen connections with the leading purchasers of Russian oil.
Following the imposition of sanctions by Western nations in response to Moscow's incursion into Ukraine in 2022, Russian oil has become an increasingly affordable option for India and China. However, the collaboration between Beijing, New Delhi, and Moscow has evolved into something more profound, with all three finding common ground in their opposition to the US, which has hit Russia with sanctions and levied significant tariffs against its trading allies.
India, in particular, has felt the sting of these tariffs, being one of the largest consumers of Russian oil, a position that has placed it at odds with Washington. China, meanwhile, continues to negotiate with the US to prevent further tariffs and possible sanctions due to its oil transactions with Russia.
The trio convened at the Shanghai Cooperation Organisation (SCO) summit in Tianjin, an event aimed at promoting a global vision in contrast to that of the West, potentially challenging American dominance. Analysts have pointed out that this forum allows the leaders to solidify their relationships amidst the current global financial instability.
Russia stands to benefit significantly from bolstering trade relations with India and China, its most substantial trading partners. The economies of these populous nations have been instrumental in supporting Russia's economy, particularly after the fallout from the Ukraine conflict isolated it from much of the Western market.
China set a record last year by importing over 100 million tonnes of Russian crude oil, making up nearly 20% of its total energy imports. Similarly, India's oil imports from Russia saw a dramatic increase, with purchases totalling approximately $140bn (£103.5bn) since 2022, indicating a substantial shift from its pre-war buying patterns. Together, China and India account for the lion's share of Russia's energy exports, a sector critical to Moscow's revenue and, by extension, its military funding.
Experts suggest that Russia may offer additional discounts to ensure continued trade with India and China, particularly to alleviate any pressure from the US on India to reduce its oil purchases. Mandar Oak, a public policy expert from the University of Adelaide, highlighted the strategic importance of maintaining these trade relationships, especially for India, which has benefited from access to more affordable energy.
Amidst these developments, Prime Minister Modi has reiterated India's commitment to its partnership with Russia, emphasizing mutual support and the pursuit of the most advantageous energy deals, despite criticism from the US. This stance marks a challenging period in Delhi-Washington relations, exacerbated by additional tariffs imposed by the Trump administration on India for its Russian oil purchases.
For Modi, adopting a firm stance against US pressure could enhance his domestic reputation, underscoring India's sovereignty in its foreign and economic policies. Shifting its oil supply source from the Middle East to Russia has enabled India to reduce its energy costs significantly, a move mirrored by China's increased Russian oil imports.
As the leaders convene, the focus on safeguarding energy interests and presenting a united front against American trade policies reflects broader geopolitical objectives, particularly for China. The SCO summit provides a platform for China to showcase its leadership within a group of nations affected by US tariffs, reinforcing its vision for a “multi-polar” world order devoid of American hegemony.
The summit highlights the intricate economic and geopolitical ties between these nations, all seeking to counter the economic threats posed by US policies through strengthened cooperation and shared interests.
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