At 2.8 million barrels per day, the shipments now account for 55% of New Delhi’s purchases
India’s crude imports from Russia have surged to a record high in July, accounting for 55% of its total crude oil purchases, according to media reports.
Shipments rose to around 2.6 million barrels per day (mbd), The Times of India reported, quoting Sumit Ritolia, Lead analyst, Modelling and Refining at Kpler.
The rise in purchases came even as US sanctions on Russian oil remain in force. After the Middle East conflict sparked a surge in oil prices, the US waived the sanctions – as a price dampener – on Russian oil already loaded on vessels at least three times. The last waiver was issued in May but Washington quietly let the waiver lapse on June 19, as global oil supplies remain restricted and stocks have mostly been drawn down across the world.
Russian crude imports increased 1.8% from 2.73 mbd in June, though New Delhi’s total imports were only slightly higher, up 0.1% from 5.02 mbd. Moscow’s share has also risen from 54.4%, further consolidating its position as New Delhi’s top supplier. Russian crude imports to India have more than doubled from 23.4% in January.
Supplies of Russian Urals crude helped Indian refiners after disruptions caused by the Middle East conflict continued. Moscow has also sharply slashed discounts to $2-3 per barrel recently.
A June ceasefire brokered to halt the Middle East conflict has collapsed, leading to airstrikes by the US and Iranian retaliation. While the US announced a temporary pause on a planned major military offensive last week, the situation remains volatile. Shipping traffic through the Hormuz Strait, through which a fifth of global energy supplies passed before the conflict, has been severely impacted.
Read more India faces 100% tariffs as US Senate advances legislationIndia’s increasing of crude oil purchases from Russia comes as the US is pushing a bill that would permit the US Trade Representative to impose 100% tariffs on the top five importers of Russian oil and gas.
China and India have been the two largest importers of Russian oil recently.
The US had imposed 25% tariffs on Indian imports as a penalty for its oil purchases from Russia in August 2025. The tariffs were lifted after a broad trade deal was announced in February. India has maintained that its oil purchases are dictated by national interest.
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