India's Russian Oil Imports
From 2% to Strategic Dependence
India's import of Russian crude oil was negligible before the 2022 Ukraine war — approximately 2.5% of India's total oil imports. After Western sanctions on Russia, Russian oil became available at a significant discount (often $10–20 below market price), and India's state refiners (Indian Oil, BPCL, HPCL) and private refiners (Reliance) sharply increased Russian purchases. By mid-2025, Russia accounted for nearly 50% of India's crude imports. However, sustained US pressure — including a 25% additional duty on India's Russian oil purchases (August 2025) and sanctions on Russian companies Rosneft and Lukoil (effective November 2025) — caused India's Russian crude share to fall to approximately 21% by January 2026.
- India's Russian crude share: 2.5% (pre-2022) → peak ~50% (2025) → ~21% (January 2026)
- Decline in volume: 1.75 million barrels per day (August 2025) → 1.12 million bpd (January 2026) — a 36% drop
- US measures: 25% additional duty on India's Russian oil purchases (August 27, 2025); sanctions on Rosneft and Lukoil subsidiaries (November 2025)
- 30-day waiver (March 5 – April 4, 2026): covers Russian oil already loaded on ships before March 5
● Tracked since February 11, 2026 · last seen March 07, 2026 · updates as the daily brief publishes