India's Russian Oil Imports
Scale and Strategic Significance
Following Russia's full-scale invasion of Ukraine in February 2022 and Western sanctions on Russian oil, India dramatically increased its Russian crude imports, drawn by steep discounts. Russian crude's share in India's oil imports rose from approximately 2.5% in 2021 to nearly 40-50% by 2025. This shift made India Russia's second-largest oil customer after China and was a source of diplomatic friction with Western nations. The India-US interim trade deal's reported provision for India to stop importing Russian oil represents a potentially transformative shift in India's energy sourcing strategy.
- India's total crude oil imports: approximately 4.7-5 million barrels per day (India imports ~85% of its crude requirements)
- Russian crude share: ~2.5% of India's imports in 2021; rose to ~40-50% by 2025
- Key Russian crude grades: Urals, ESPO (Eastern Siberia-Pacific Ocean blend)
- Indian refiners: Reliance Industries, Indian Oil Corporation, and Nayara Energy were major buyers of Russian crude
- Price cap mechanism: G7 imposed a USD 60/barrel price cap on Russian seaborne crude in December 2022
- India's stated position: India has consistently maintained it buys oil from wherever it gets the best deal, prioritising energy security for 1.4 billion people
- Impact of stopping Russian imports: India would need to source replacement crude from the Middle East (Saudi Arabia, Iraq, UAE), Africa, and the Americas at potentially higher prices
● Tracked since February 11, 2026 · last seen March 07, 2026 · updates as the daily brief publishes
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