Reliance Industries announced on Tuesday that it does not expect any Russian crude oil deliveries in January, which could push India’s imports of Russian oil to their lowest level in years. Reliance, which operates the world’s largest refinery at Jamnagar and was India’s biggest buyer of Russian crude last year, made the statement following US President Donald Trump’s warning that the US might increase import tariffs on India over its Russian oil purchases. The company said its Jamnagar refinery has not received any Russian oil in the past three weeks and is not expecting shipments in January, refuting media reports that three Russian oil vessels were en route.

Since the 2022 Ukraine war, India became the largest buyer of discounted Russian seaborne crude, drawing criticism from Western nations who argue that such purchases fund Moscow’s war effort. Last year, the US doubled import tariffs on Indian goods to 50% in response to India’s heavy Russian oil imports. Trade talks between India and the US are ongoing but have faced challenges.

Indian authorities have asked refiners to report weekly on Russian and US oil purchases. Sources indicate that India’s Russian crude imports may drop below 1 million barrels per day as New Delhi seeks a trade deal with Washington. Stricter US and EU sanctions have slowed Russian oil shipments to India, which fell to a three-year low of roughly 1.2 million bpd in December—a 40% drop from the June peak of 2 million bpd.

With Reliance halting purchases, Russian oil deliveries in January are likely to come mainly from Russia-backed Nayara Energy and state-run refiners Indian Oil Corp (IOC) and Bharat Petroleum Corp (BPCL). Nayara, operating a 400,000-bpd refinery, is expected to be the main buyer due to EU sanctions limiting other suppliers. IOC, BPCL, and Nayara did not immediately respond to requests for comment.