Oil Imports

President Donald Trump said Sunday that he has "demanded" that about seven countries heavily reliant on Middle East oil join a coalition to police the Strait of Hormuz. About one-fifth the world's traded oil flows through the waterway. Trump spoke while answering reporters' questions as he flew back to Washington from Florida aboard Air Force One. The president declined to name the countries he the administration is negotiating with for protection for the strait. "I'm demanding that these countries come in and protect their own territory, because it is their own territory," Trump said about the strait, claiming the vital shipping channel is not something the United States needs because of its own access to oil. U.S. President Donald Trump's appeal to China, France, Japan, South Korea, Britain and others to send warships to keep the Strait of Hormuz "open and safe" brought no commitments on Sunday as oil prices soar during the Iran war. Iran's Foreign Minister Abbas Araghchi told

India's net oil import bill could rise by $56-64 billion annually assuming global crude averages $110-115 per barrel in FY27

The measure, which applies only to oil loaded before March 12, expands upon a month-long waiver given to India last week, which was intended for crude loaded on ships before March 5

India is exploring alternative LNG and LPG supplies to bypass the Strait of Hormuz as officials clarify that the US sanctions waiver covers Rosneft and Lukoil crude stranded at sea

US Treasury allows India to buy Russian oil already en route, signalling possible easing of sanctions on other Russian oil to address global supply gaps, says Scott Bessent

The US on Thursday allowed Indian refiners a 30-day waiver from sanctions to buy Russian oil loaded on vessels as of March 5. Approval related to Russia's oil sale to India is valid until April 4

While GL 46A allows financing activities related to transactions, alongside are sanctions on dealings with Venezuelan state oil company PdVSA

India's crude import strategy is entering a phase of calibrated rebalancing rather than abrupt realignment, with Middle Eastern suppliers led by Saudi Arabia regaining market share even as Russian volumes remain significant but increasingly shaped by geopolitics and compliance constraints, according to shipping data and analysts. During February 1-18, India's total crude imports averaged 4.85 million barrels per day (bpd), down 8 per cent from January's 5.25 million bpd, as flows from Russia cooled following US sanctions on key Russian exporters and the European Union's 18th sanctions package coming into effect last month. Ship tracking data showed Russian shipments to India declining from 1.28 million bpd in December 2025 to 1.22 million bpd in January and further to around 1.09 million bpd in early February, down about 10 per cent month-on-month. "Russian crude imports into India are estimated at around 1.0-1.2 million bpd in February, easing toward roughly 800,000 bpd to 1 millio

Russia will still be the country's biggest supplier this month if flows reach the top of Kpler's range at 1.2 million barrels a day, but shipments are set to drop even further

India's largest private refiner gets US general licence to purchase Venezuelan crude directly, potentially diversifying its crude slate and resuming imports after previous sanctions eased

The inquiry adds to ongoing scrutiny of the conglomerate, including a US bribery probe in which the group's chairman has been indicted

New ‌Delhi has not officially announced plans to halt Russian oil imports

Pax Silica and import commitments highlight opportunities and risks

Discounts for ESPO Blend, delivered from the Pacific port of Kozmino to China, widened to nearly $9 a barrel to ICE Brent this week, from $7-$8 in recent months

Trading houses Vitol and Trafigura were granted US licenses to market and sell millions of barrels of Venezuelan oil following the US military operation last month to capture President Nicolas Maduro

The country imported about 1.3 million barrels a day of Russian crude in December, according to data from ship-tracking firms Vortexa Ltd. and Kpler

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

Russia is alarmed by US seizures of tankers that carry illicit Russian oil, which helps fund its economy

There has been a sharp rise in shadow fleet tankers switching to the Russian flag in the past month, with at least 17 vessels having done so in recent weeks

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