India's Energy Diplomacy
Strategic Autonomy in Practice
India's approach to energy procurement is a direct expression of its strategic autonomy doctrine — diversifying suppliers to avoid dependence on any single country or bloc. India has simultaneously: imported Russian oil at discounted prices (under Western sanctions pressure, but invoking its sovereign right); negotiated US LNG long-term contracts; maintained the Iran Chabahar connection; expanded Gulf oil ties; and engaged African and Latin American suppliers. The OFAC waiver episode illustrates that in a genuine energy crisis, geopolitical alignments are subordinated to economic necessity even for the world's most powerful country.
- India's oil import mix (FY2024): Russia (~35%), Iraq (~20%), Saudi Arabia (~15%), UAE (~10%), other ~20%
- Russian oil price discount to India: approximately $12–15/barrel below Brent during peak 2022–23 period; discount narrowed thereafter
- India's total crude imports: approximately 4.7 million barrels per day
- Chabahar Port: India's investment in Iran's Chabahar provides access to Central Asia and Afghanistan without Hormuz transit — limited capacity but strategic importance
- India-Iran oil trade: paused under sanctions since 2019; Araghchi's calls with Jaishankar include discussion of resuming this under a waiver or post-conflict arrangement
- India's payment mechanisms for Russian oil: shifted from dollar/SWIFT to rupee settlements via Russian banks, and Indian rupee-rouble arrangements
● Tracked since March 02, 2026 · last seen June 25, 2026 · updates as the daily brief publishes