In an unexpected surge, India’s crude oil imports from Russia peaked at an 11-month high this June. Driven by the turmoil in the Middle East, domestic refiners in India strategically boosted their stockpile, as geopolitical tensions between Israel and Iran escalated. According to Kpler, a global commodity tracking firm, the influx reached 2.08 million barrels per day (bpd), the highest since July 2024.
Surge Amidst Conflict
Amidst a backdrop of geopolitical instability, India’s global oil imports declined by 6% in June. Yet, Russian crude imports saw an impressive 8% rise month-on-month, marking their highest levels in almost a year. Major refineries in India, exporting refined products to G7+ countries, have transformed Russia into a leading supplier for the region, as noted by the Centre for Research on Energy and Clean Air.
Transformation of Trade Dynamics
Following Western sanctions against Russia after the Ukraine invasion in February 2022, Russia offered significant discounts to attract new customers. Indian refineries seized this opportunity, shifting Russia from a minor supplier to the dominant one, surpassing traditional West Asian providers. Russian oil now constitutes roughly 40% of India’s imports.
Comparing Global Suppliers
Iraq, now India’s second-largest supplier, showed a monthly reduction of 17.2%, contributing 8,93,000 bpd. Saudi Arabia remained consistent with 5,81,000 bpd, while the UAE increased its supply by 6.5% to 4,90,000 bpd. According to Kpler data, the US retained its position as the fifth-largest provider with 3,03,000 bpd.
An Eye Towards Western Ties
There’s a notable uptick in India’s crude inflows from the US, jumping by over 50% from the previous year to reach 2,71,000 bpd in the first half of 2025. While the lure of cheaper Russian oil had previously decreased US imports, improved diplomatic ties with the new US administration seem to be reviving purchases.
Brazil’s Ascending Role
Brazil presented the steepest growth in crude imports, with an almost 80% year-on-year increase to 73,000 bpd during January–June 2025. Amid this trend, Russia’s steadiness remains unshaken, maintaining its lead as India’s top supplier with shipments averaging 1.67 million bpd in early 2025, slightly up from previous figures.
Russia’s dominance in India’s oil supply arena paints a broader picture of shifting global energy dynamics and powerful alliances in an era marked by geopolitical tensions and economic strategies. According to Times of India, this adaptation illustrates India’s economic resilience and growing diplomatic agility in the oil market.
