4 days ago
India’s Russian Oil Share Rose Amid US Tariff Threats
India needed to make sure it had enough energy during a crisis caused by the West Asia war.
It bought oil from several countries, including Russia, Brazil, and Angola.
Russia became the biggest source in the period from March through July.
Russian oil made up 42% of India’s imports during that period.
Last year, Russia’s share was 32%.
This means India relied more heavily on Russian oil this year.
New tariff threats from the United States could make this dependence harder for India to manage.
The energy crisis in West Asia is still continuing.
India diversified its energy sources amid the West Asia war-driven energy crisis.
Russia’s share of India’s oil imports rose to 42% during March-July.
Russia accounted for 32% of India’s oil imports during the same period last year.
India also increased imports from Brazil and Angola, with smaller gains from several other countries.
Fresh US tariff threats could pressure India because of its reliance on Russian oil.
- Who
- India, Russia, Brazil, Angola, and the United States.
- What
- India shifted its oil imports while increasing Russia’s share from 32% to 42% during March-July.
- Where
- India’s oil-import market, amid an energy crisis linked to the West Asia war.
- When
- During March-July, compared with the same period the previous year.
- Why
- India diversified energy sources because of the crisis, while fresh US tariff threats created pressure over its reliance on Russian oil.
Key facts
- Russia’s share
- 42% of India’s oil imports during March-July
- Previous share
- 32% during the same period last year
- Other suppliers
- Brazil and Angola recorded gains in India’s oil imports
- Energy crisis
- The shift occurred as India faced an energy crisis linked to the West Asia war
- US action
- Fresh tariff threats could put pressure on India
- Continuing risk
- The West Asia energy crisis is described as far from over
Sources
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