Context: Russian oil imports India
Russia’s share in India’s crude-oil imports rose to a record 48.6% by value in June 2026.
This comes as the United States moves towards stronger secondary sanctions on countries purchasing Russian energy.
Key Data
Russia accounted for 48.6% of India’s oil import bill in June 2026.
This is a sharp rise from around 2.8% in February 2022.
India imported 18.2 million metric tonnes of crude in June 2026.
This was 16.5% lower than May and 13% lower year-on-year.
India imported 8.7 MMT from Russia.
This was only 1% below May, but 25% higher than June 2025.
Russian Crude Discount
Russia’s price discount reportedly narrowed from $77.7 per tonne in April 2026 to $10.6 per tonne in June 2026.
This reduces one of the earlier economic advantages of buying Russian crude.
UAE Share
The United Arab Emirates supplied 17.5% of India’s oil imports by volume and 18% by value in June 2026.
Core Issue: Energy Security vs Sanctions
Russia remains a major crude supplier for India.
This allows Indian refiners to maintain diversified sourcing and flexible crude grades and shipping routes.
However, a 48.6% share also creates strategic vulnerability.
If geopolitical tensions disrupt Russian supplies or sanctions restrict payments and transactions, India could face supply and financial risks.
Strait of Hormuz Factor
With supplies through the Strait of Hormuz constrained, India’s dependence on alternative suppliers such as Russia has increased.
This shows why India’s energy-import strategy is shaped by both economics and geopolitics.
U.S. Sanctions Pressure
The U.S. Senate passed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026.
The Bill could allow tariffs of up to 100% on countries among the top five importers of Russian oil and gas.
However, the Bill still requires action in the U.S. House of Representatives.
India’s Dilemma
If India reduces Russian imports too quickly, energy costs and supply risks may rise.
If India continues large-scale Russian imports, trade and sanctions exposure with the United States may increase.
Key Takeaway
India’s Russian oil imports show the tension between energy security and sanctions risk. The challenge is to preserve affordable and diversified crude supplies while avoiding excessive strategic dependence on any one supplier.
