A top aide to President Donald Trump on Sunday accused India of effectively financing Russia's war in Ukraine by purchasing oil from Moscow, after the U.S. leader escalated pressure on New Delhi to stop buying Russian oil.

But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand.

Indian officials confirmed Saturday the country is not altering policy and will continue buying oil from Russia, despite threats of a financial "penalty" from U.S. President Donald Trump.