India remains committed to purchasing Russian oil, unaffected by US sanctions or waivers, citing commercial viability and energy security needs as key factors. Joint Secretary Sujata Sharma emphasized that India’s crude sourcing decisions are driven by commercial considerations and ample supply availability. Despite the expiration of the temporary US sanctions waiver for Russian seaborne crude, India’s stance on procuring Russian oil remains unwavering.
The Trump administration’s failure to extend the relief measure has not deterred India from its strategic oil imports from Russia. Indian refiners have capitalized on lower prices of Russian oil to manage global energy costs effectively. Even with the recent surge in benchmark Brent crude prices exceeding $100 per barrel, India’s consistent purchase of Russian oil has helped stabilize global oil demand.
India, as the world’s third-largest oil importer, is expected to maintain near-record levels of Russian oil imports at 1.9 million barrels per day in May. Despite occasional sanctions on Russian entities, Indian refiners are anticipated to continue sourcing Russian crude in the foreseeable future. Analysts predict a focus on enhanced documentation and screening processes rather than a significant shift in oil sourcing strategies.
