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A sudden halt to Russian crude imports would pose a supply-chain challenge for Indian refiners, potentially intensifying competition for alternative barrels and putting pressure on freight and procurement costs, while limited scope for further growth in Venezuelan oil output could constrain refiners' ability to exploit cheaper heavy crude, analysts said. Russian crude, which became a significant component of India's oil import basket after the Russia-Ukraine war, has lost some of its earlier pricing appeal as elevated freight costs eroded its advantage on a delivered basis. This has encouraged Indian refiners to look increasingly towards Middle Eastern grades, where shorter shipping routes and competitive delivered economics offer an alternative, according to Sumit Ritolia, senior manager for modelling at commodities intelligence firm Kpler. "Replacing Russian crude at scale is fundamentally a supply-chain challenge rather than simply a question of paying more per barrel," he ...
Prime Minister Narendra Modi and Russian President Vladimir Putin have directed their governments to further expand bilateral cooperation, as India and Russia aim to increase bilateral trade to USD 100 billion by 2030, Ambassador Vinay Kumar has said. In an interview with Russian news agency TASS published on Saturday, Indian envoy Kumar said the two leaders discussed the full range of bilateral relations on the sidelines of the BRICS summit in New Delhi on September 12-13. "One of the concrete results of the cooperation was the joint participation of the leaders of our countries in the BRICS business summit, as well as a visit to the Innoprom-India exhibition - the first Russian industrial exhibition held in New Delhi," the Indian envoy told TASS. He said the leaders had directed relevant ministries and agencies to further develop cooperation, including in trade and commerce. Kumar said India and Russia continued to work towards increasing bilateral trade to USD 100 billion and ..
India is expected to keep importing Russian crude at close to current levels after US President Donald Trump waived sanctions and tariffs mandated by a new law on major buyers of Russian oil, analysts said. Trump issued an executive order late on Friday waiving the "sanctions, restrictions, and duties" under the Lindsey O. Graham Sanctioning Russia and Iran Act, a day before a 30-day deadline for enforcement expired. He signed the law on September 18. The law authorised tariffs of up to 100 per cent on goods from the five largest importers of Russian crude and gas, and sanctions on Russia's shadow fleet of tankers. The waiver is not specific to India and could also benefit China. The order lets the administration reconsider it later. India is the largest importer of Russian seaborne crude, averaging 1.8 million barrels per day this year, ahead of China at 1.2 million, ship tracking data showed. Italy, Turkey and the Netherlands completed the top five. India took about 1.82 million
Racing against time, US lawmakers submitted amendments to the Russia sanctions bill, with one seeking to name its top trading partners -- including India -- in the legislation, and another proposing to scrap the section imposing tariffs altogether. The Lindsey O Graham Sanctioning Russia and Iran Act, passed by the US Senate by an overwhelming 86-11 vote last month, seeks to impose sanctions not only on Russia's leadership and energy sector, but also on the "shadow fleet" of vessels that enable Moscow to evade sanctions on oil deliveries. The US believes that Russia's crude oil trade is funding the war against Ukraine. The Bill also seeks to authorise President Donald Trump to impose 100 per cent tariffs on Russia's top oil trading partners, including China and India. The bill passed by the US Senate on August 7 does not name Russia's trading partners, but mentions the five largest importers of oil and gas by volume. The bill must be passed by the House of Representatives before it
Russia imported a record 172,000 tonnes of oil products in August, including gasoline refined from Russian crude at a refinery in India that is partly owned by Russia's Rosneft, as Ukrainian drone strikes disrupted Moscow's domestic refining capacity, according to a report by the Centre for Research on Energy and Clean Air (CREA). India supplied 70 per cent of Russia's oil product imports in August, including 120,000 tonnes of gasoline worth 78 million euros, CREA said in its monthly analysis of Russian fossil fuel exports and sanctions. The volume of Russian fuel imports was more than seven times the previous monthly record and three times the total imported during all of 2025. All of the gasoline from India was loaded at the Vadinar refinery and sold by EU-sanctioned Nayara Energy to Rosneft, CREA said. Rosneft owns 49.13 per cent of Nayara Energy, while Vadinar sourced all of its crude from Russia during the first eight months of 2026, compared with 81 per cent for all of 2025, ..
Russian President Vladimir Putin on Friday began a three-day visit to India to participate in the BRICS summit and meet Prime Minister Narendra Modi to expand bilateral trade, investment and energy cooperation. Putin is accompanied by a high-level delegation. It will be his first in-person participation at a BRICS summit outside Russia since the war in Ukraine began in February 2022. The two-day BRICS summit hosted by India starting Saturday is expected to focus on boosting collective resilience in food, energy, health, disaster reduction and critical supply chains with New Delhi positioning the bloc as an effective anchor to navigate a fragmented geopolitical environment. The summit in New Delhi is taking place against the backdrop of a global economy facing the adverse impacts of the Russia-Ukraine war, the West Asia crisis, especially the blockade of the Strait of Hormuz, and the Trump administration's trade and tariff policies. Chinese President Xi Jinping, Iranian President .
India has emerged as a key supplier of gasoline (petrol) to Russia amid a surge in Russian fuel imports triggered by Ukrainian drone attacks on refineries, ship tracking data showed. Russia's seaborne gasoline imports surged to a record around 125,000 barrels per day (kbd) in August, equivalent to a projected 470,000 tonnes for the month, as repeated attacks on its refineries disrupted domestic fuel production, according to energy analytics firm Vortexa. Indian refiners supplied as much as 1 million barrels of gasoline in the last two months, trade sources said. The supplies essentially came from Vadinar refinery in Gujarat, operated by Nayara Energy, which is half owned by Russia's Rosneft. Since 2022, India has pivoted towards Russia to meet a bulk of its crude oil -- raw material for making fuels like petrol and diesel. India's purchases of Russian crude oil hit a record high as the conflict in the Gulf squeezes supply from other sources. India imported more than 2.6 million ...
India and Russia discussed potential areas of mutual interest in higher education and reaffirmed their commitment to strengthening cooperation in the sector, the Ministry of Education said on Friday. Deepti Gaur Mukherjee, Secretary in the Department of Higher Education, held an interaction with Deputy Minister of Science and Higher Education of the Russian Federation, Mogilevsky Konstantin Ilyich, on Thursday, the ministry said in a post on X. "Both sides discussed potential areas of mutual interest and reaffirmed their intent to strengthen higher education cooperation between the two countries," it said. Mukerjee was appointed the higher education secretary as part of a top-level bureaucratic reshuffle effected by the Centre on August 10. She succeeded Vineet Joshi, who was last month appointed secretary in the Ministry of Panchayati Raj.