Vladimir Putin in BIG trouble as Russian oil gets severely hit by US ban, earning likely to fall by 46 percent, India also cuts purchases

According to news agency Reuters, the decline in supplies could cause Russia’s earnings from oil and gas to fall by as much as 46 percent this January

New Delhi: In a concerning development for Vladimir Putin, the oil export of Russia has declined sharply, reaching to the country’s lowest level in the past four months. This sharp dip in the export comes after the United States and other Western countries imposed a ban on Russian oil. It is important to note that the Modi government has also reduced its oil purchase from Russia. In December, India bought the least amount of Russian oil in nearly three years.

According to news agency Reuters, the decline in supplies could cause Russia’s earnings from oil and gas to fall by as much as 46 percent this January. The reduction in Russian oil and gas supplies is expected to deliver a major blow to Russia.

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Here are some of the key details:

• Russia shipped an average of 3.16 million barrels of crude oil per day, as per a Bloomberg report.
• This is the lowest level of exports since August last year.
• Compared to the period before Christmas, daily exports have fallen by about 700,000 barrels.
• Compared to the week ending January 11, exports were down by 260,000 barrels per day.
• Russia is facing difficulties in delivering its oil to buyers.
• India is one of Russia’s major customers, but it too has significantly reduced its oil purchases.
• In December, India’s imports of Russian oil fell to their lowest level in three years.
• This situation is worrying for Russia, as oil exports are extremely important to its economy.
• Reduced buying by major customers like India is directly impacting Russia’s revenues.

Impact on Russia’s earnings

Russia’s income from oil exports has declined for the fourth consecutive week, reaching a new low. In January, Russia is expected to earn 420 billion rubles (approximately ₹490 billion) from oil and gas. The main reasons for this are lower international oil prices and a stronger local currency, the ruble. In December 2025, the ruble strengthened by more than 30 percent compared to last year, which reduced the ruble-denominated price of oil used for taxation by as much as 53 percent.