New Delhi – India’s crude imports from Russia have surged to 2 million barrels per day (bpd) in August, making up nearly 38 per cent of the country’s total oil inflows despite rising geopolitical pressure and US trade tensions.
According to global energy data firm Kpler, Russia remained India’s top supplier in the first half of August, while shipments from Iraq fell to 730,000 bpd from 907,000 bpd in July, and imports from Saudi Arabia dropped to 526,000 bpd from 700,000 bpd. The United States ranked fifth with 264,000 bpd.
“Russian crude imports into India have so far remained resilient in August, even after the Trump administration’s tariff announcement in late July,” said Sumit Ritolia, Lead Research Analyst at Kpler. He explained that August cargoes had been booked weeks earlier, and any real changes in supply patterns will likely emerge in September or October.
Indian refiners say there has been no government directive to cut Russian volumes. “Neither we are being told to buy nor told not to buy,” said Indian Oil Corporation (IOC) Chairman Arvinder Singh Sahney. “We are not making extra effort to either increase or decrease the share of Russian crude.” He added that Russian oil accounted for about 22 per cent of IOC’s crude intake in April-June and that the share is expected to remain steady.
Bharat Petroleum Corporation Ltd (BPCL) Director (Finance) Vetsa Ramakrishna Gupta recently noted that Russian imports had declined in July as discounts narrowed to USD 1.5 per barrel, down sharply from highs of USD 40 in 2022. However, discounts have slightly widened again this month to above USD 2.
India, the world’s third-largest oil consumer, shifted sharply to Russian crude after Western sanctions on Moscow in 2022, lifting Russia’s share of imports from less than 0.2 per cent before the Ukraine war to 35–40 per cent now.
Ritolia said refiners are gradually diversifying. “There’s growing interest in sourcing more barrels from the US, West Africa, and Latin America—not necessarily replacing Russian supply but hedging against possible disruptions. It’s a shift from pure margin maximization to energy security and risk management.”
Sahney reinforced that India’s stance remains guided by economics. “Such purchases will continue unless sanctions are imposed. We are doing business as usual.”
