New Delhi, Feb. 18 -- In January 2026, India's merchandise imports from Russia fell by 40.48% to $2.86 billion, compared with $4.81 billion at the same time last year, Hindustan Times reported, citing data released on 16 February.

The reduction in merchandise imports is largely due to Indian refiners drastically cutting crude oil purchases from Russia. Of India's total merchandise imports from Russia, petroleum crude typically accounts for about 80%. Citing sources, the report added that New Delhi's actual imports of Russian crude oil in the month were estimated at around $2.3 billion, or possibly lower.

It is worth noting that while the government released overall trade data for January 2026 on 16 February, a breakdown by product categ...