US says India halves Russian oil imports, sources deny immediate cuts

India has halved its Russian oil imports, Reuters reported, citing a White House official, though Indian sources denied any immediate cut as U.S. President Donald Trump's administration presses New Delhi to scale back purchases.

The White House told Reuters on Thursday that talks with an Indian delegation in Washington were "productive," and that refiners had already reduced imports by 50%.

However, Indian industry sources said on Friday no directive to cut imports had been issued, noting that refiners have booked cargoes for November loading, including some cargoes for December arrival. Kpler data show India's Russian oil imports are actually set to rise about 20% this month to 1.9 million barrels per day.

Trump on Wednesday claimed that India's Prime Minister Narendra Modi had assured him to stop buying oil from Russia, but India's foreign ministry said it was unaware of any such call between the two leaders.

Trump has imposed tariffs on Indian exports to the U.S. to discourage purchases of Russian oil, as he seeks to choke off Russia's oil revenues and pressure President Putin to negotiate a peace deal in Ukraine.

Crude Oil Futures was down 1% at $56.87/barrel at press time.