**India’s Russian Crude Imports Reach Record Levels Amid Ongoing Sanctions**
In July 2023, India’s imports of crude oil from Russia surged to unprecedented levels, constituting 55% of the country’s total crude oil purchases. This increase, reported by the Times of India and attributed to Sumit Ritolia, a lead analyst at Kpler, saw shipments rise to approximately 2.6 million barrels per day (mbd).
This significant uptick in Russian crude imports occurred despite the ongoing sanctions imposed by the United States on Russian oil. The sanctions, aimed at limiting Russia's revenue from oil exports, have not deterred India from expanding its purchases. The geopolitical landscape has been further complicated by recent conflicts in the Middle East, which have led to increased oil prices globally. In response to these rising prices, the US had previously issued waivers on sanctions for Russian oil that was already loaded onto vessels, but these waivers lapsed on June 19, 2023.
In June, Russian crude imports to India had already seen a modest increase of 1.8%, rising from 2.73 mbd to 2.6 mbd in July. Overall, India's total crude oil imports only marginally increased by 0.1% from 5.02 mbd. The share of Russian crude in India’s oil imports has risen from 54.4% in June, further solidifying Russia's position as India's primary oil supplier. Notably, Russian crude imports have more than doubled from 23.4% in January 2023.
The increase in Russian oil imports has been beneficial for Indian refiners, particularly in light of disruptions caused by ongoing conflicts in the Middle East. Additionally, Moscow has recently reduced discounts on its crude to between $2 and $3 per barrel, making it more attractive for Indian buyers.
The geopolitical situation in the Middle East remains tense, with a ceasefire that was brokered in June having collapsed. This has led to renewed airstrikes by the US and retaliatory actions from Iran. Although the US announced a temporary pause on a planned military offensive last week, the overall situation continues to be volatile, impacting shipping routes, particularly through the Hormuz Strait, a critical passage for global energy supplies.
India's increasing reliance on Russian crude comes at a time when the US is considering legislation that would allow the imposition of 100% tariffs on the top five importers of Russian oil and gas. Despite these potential tariffs, India has consistently maintained that its oil purchases are driven by national interests and the need for energy security.
Historically, the US had imposed a 25% tariff on Indian imports in August 2025 as a penalty for its purchases of Russian oil. However, these tariffs were lifted following a broader trade agreement reached in February 2026.
As the global energy landscape continues to shift, with India and China emerging as the largest importers of Russian oil, the implications of these developments will be closely monitored by international observers and policymakers alike. India's strategy of diversifying its energy sources while navigating complex geopolitical tensions underscores the intricate balance it seeks to maintain in its foreign relations and energy security.