India Oil Imports

Recent geopolitical developments have seen record fuel supplies, expanded discounts on oil and robust domestic appetite for fuel

On January 3, the US launched a large-scale operation in Venezuela's capital Caracas and captured President Nicolás Maduro and his wife Cilia Flores

India on Friday said it is closely following developments relating to a proposed American legislation that seeks to impose up to 500 per cent tariff on countries procuring Russian crude oil. India and China are among a handful of countries which are procuring a significant volume of crude oil from Russia. US Senator Lindsey Graham, the author of the bill, said this week that President Donald Trump has green-lighted the proposed legislation. "We are aware of the proposed bill. We are closely following the developments," External Affairs Ministry Spokesperson Randhir Jaiswal said at his weekly media briefing here. "Our position on the larger question of energy sourcing is well known." "In this endeavour, we are guided by the evolving dynamics of the global market and by the imperative to secure affordable energy from diverse sources to meet the energy security needs of our 1.4 billion people," he said.

India's imports of Russian crude are likely to dip below 1 million barrels per day ‌as New Delhi seeks to clinch a trade deal ​with Washington

Trump warns of higher tariffs on Indian imports if New Delhi continues buying Russian oil, sharpening trade tensions amid stalled India-US deal talks

Donald Trump claimed Prime Minister Narendra Modi knew he was not happy about India's purchase of Russian oil, saying the US could further raise tariffs 'very quickly'

Overall Russian oil deliveries to India had slowed to as little as 712,000 barrels a day in the second week of December, before rising, according to Kpler

A parliamentary committee has flagged India's heavy dependence on crude oil imports and rising geopolitical risks as major challenges for the country, and urged the government to step up diversification of supply sources and strengthen risk management mechanisms. In its report tabled in Parliament last week, the Public Undertaking Committee noted that India imports nearly 89 per cent of its crude oil requirements, making the country vulnerable to global disruptions arising from conflicts, sanctions, civil unrest in oil-producing nations and disruptions in key shipping routes such as the Suez Canal and the Red Sea. Recent events, including the Russia-Ukraine war and tensions in West Asia, have highlighted the fragility of India's energy supply chain. The committee recommended that Ministry of Petroleum and Natural Gas (MoPNG) and state-run oil companies intensify efforts to diversify crude oil sourcing both geographically and contractually, bolster strategic petroleum reserves and ..

India, a sovereign nation, is free to buy oil from sources it considers beneficial, the Kremlin said on Monday, while expressing confidence that New Delhi will stick to the policy of ensuring its economic interests. On August 6, the US imposed additional 25 per cent tariffs on India for its purchase of oil and petroleum products from Russia. At the end of August, US tariffs on imports of Indian goods and services were increased to 50 per cent. "India, being and remaining a sovereign nation, carries out foreign trade operations and purchases energy resources where it is beneficial for itself," the Kremlin spokesman, Dmitry Peskov, told reporters in the wake of last Friday's Summit talks between President Vladimir Putin and Prime Minister Narendra Modi in New Delhi. Speaking after his talks with Prime Minister Modi, the Russian leader assured that Moscow will remain India's reliable energy supplier. "And, as far as we understand, our Indian partners will continue this line to ensure

According to government data, the total trade between India and Russia grew from $8.73 billion in FY22 to $68.7 billion in FY25, mainly due to New Delhi's oil purchases

Kremlin spokesperson Dmitry Peskov said Russia remains an important supplier of energy to India and called for the set-up of trade mechanisms that cannot be affected by third countries

European think tank CREA has claimed that these shipments made India the largest national destination for crude moved by Russia's growing 'shadow fleet'

India's oil-buying patterns are in the spotlight as Washington raises the pressure against Moscow over the war in Ukraine, while at the same time promoting talks aimed at ending the conflict

This month, India is expected to receive 1.87 million bpd of Russian crude, provisional data from Kpler showed

The US has sanctioned several Indian nationals and companies for helping Iran sell petroleum products, saying the funds support terrorist groups and threaten American interests

The increase in purchases by the world's largest buyer is likely to reduce stocks in key producing countries such as Indonesia and Malaysia and lend support to benchmark Malaysian palm oil futures

US sanctions on Rosneft and Lukoil, along with the EU's ban on refined products derived from Russian crude, are unlikely to materially dent the margins or credit profiles of India's state-run oil marketing companies, Fitch Ratings said. The ratings agency warned, however, that the eventual impact will hinge on how long the sanctions last and how strictly they are enforced. Russian crude made up about a third of India's oil imports between January and August 2025, and its discounted rates have been a key boost to OMC profitability. Fitch expects the companies to adhere to sanctions, though some refiners may continue sourcing unsanctioned Russian barrels. Traditionally reliant on Middle Eastern oil, India significantly increased its imports from Russia following the February 2022 Ukraine invasion. Western sanctions and reduced European demand made Russian oil available at steep discounts. As a result, India's Russian crude imports surged from under 1 per cent to nearly 40 per cent of

Donald Trump backs Senate legislation enabling tariffs of up to 500% on countries trading with Russia, a move that could significantly affect India and China

India has signed its first structured deal to buy 2.2 million tonnes of LPG from the US in 2026, a move the government says will boost supply security

India, the second biggest buyer of Russian oil, spent as much as 2.5 billion euros on purchases of crude oil from Moscow in October ahead of new sanctions being slapped on Russian entities, a European think tank said. India's spend in October was unchanged from 2.5 billion euro spent on buying Russian oil in September. India remained the second-largest buyer of Russian fossil fuels in October behind China, according to the Centre for Research on Energy and Clean Air (CREA). On October 22, US imposed sanctions on Rosneft and Lukoil, two of the largest oil producers in Russia, to cut off Kremlin's resources for funding Ukraine war. The sanctions have resulted in companies like Reliance Industries, HPCL-Mittal Energy Ltd and Mangalore Refinery and Petrochemicals Ltd halting imports for now. Russia shipped 60 million barrels of crude oil in October, with Rosneft and Lukoil together accounting for 45 million barrels. "India remained the second-largest buyer of Russian fossil fuels, ...