Archive · 8 Dec 2025
India's Oil Imports Amid Global Shifts
India has been buying a lot of oil from Russia, especially since the war in Ukraine started.
This is because Russian oil is cheaper due to price caps set by other countries.
The US has increased tariffs on Indian goods because of this.
However, Russia says India is free to buy oil from wherever it finds beneficial.
India's government says it buys oil based on what's best for its people and businesses.
Russia has promised to keep supplying oil to India without any interruptions.
India is also working on strengthening its economic partnership with Russia through more investments and trade deals.
India has significantly increased its oil imports from Russia, reaching nearly $56 billion in FY 25.
The US has imposed higher tariffs on Indian goods due to India's oil purchases from Russia.
Russia assures uninterrupted fuel supplies to India, respecting India's sovereignty in energy sourcing.
India's energy sourcing is based on global market dynamics and the need for affordable energy for its population.
The Ministry of External Affairs emphasizes that private companies decide on energy sourcing based on commercial considerations.
- Who
- India, Russia, US, Global Oil Market
- What
- India's oil imports from Russia and global market dynamics
- When
- Recent developments, with specific events in August 2024
- Where
- India, Russia, Global Oil Markets
- Why
- To meet energy requirements at affordable rates and ensure economic interests
- India's Oil Imports from Russia
- Nearly $56 billion in FY 25
- June 2024 Russian Oil Imports
- 2.1 million barrels per day (45% of total imports)
- US Tariffs on Indian Goods
- Increased to 50%
- Kremlin's Assurance
- Uninterrupted fuel supplies to India
- India's Energy Sourcing Principle
- Based on global market dynamics and affordability
- MEA's Stance on Energy Sourcing
- Commercial decisions by private companies
- India's Economic Partnership Goal
- Strengthening through diversification and investments
- Kremlin's View on India's Sovereignty
- India is free to buy oil from beneficial sources
Sources
Crude Oil Big News, Tensions Rise As Ukraine Strikes Russia & Markets Brace For Bigger Impact
3 Companies to Watch Amid Rupee Depreciation
INR vs USD: Rupee falls to 90.11 against US dollar. What's the near-term outlook for the currency?
China Welcomes Putin's India Visit, Urges Stronger Trilateral Cooperation
Kremlin says India will continue to buy Russian crude if it’s profitable
Fuel demand hits 6-month high in Nov
India buys fuel where it is profitable, reaffirms Putin's top aide
Has India's Stance On Energy Sourcing Changed Ahead of 2026?