Trump’s Russia Threat Puts Focus on Oil Buyers India and China

President Donald Trump’s threat to impose financial penalties on Russia has put the spotlight on the two biggest buyers of Moscow’s crude — India and China — but markets remain skeptical of disruption, for now.

India became a major importer of Russian oil since the invasion of Ukraine in early 2022. More than a third of overall purchases have been from the OPEC+ producer this year, compared with less than 1% prior to the war, according to data from Kpler. China’s imports have also climbed over the same period.

Still, the initial reaction from the market to Trump’s remarks was ...