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India’s merchandise imports from Russia plunge over 40% in January as crude purchases slump
Kartavya Desk Staff
India’s imports from Russia fell 40.48% to $2.86 billion in January 2026, mainly due to lower crude purchases. Imports had peaked in April 2025 before US tariff pressure. Indian refiners are halting Russian oil buys and may pivot to Venezuela and US energy amid shifting trade ties.