India is gradually reducing its dependence on Russian crude amid global geopolitical pressures, but a complete halt remains unlikely due to discounted pricing, refinery compatibility, contractual commitments, and structural reliance of certain facilities. While increasing imports from the US and exploring options like Venezuela support diversification and reduce sanctions risk, higher logistics costs and limited alternative capacity pose challenges. India’s current strategy focuses on market-driven diversification, maintaining strategic autonomy, and strengthening long-term energy security through a broader supplier base and accelerated clean energy transition.
Click to View MoreIndia’s crude oil basket has evolved from dominant dependence on West Asia to a more diversified mix, influenced by geopolitics, sanctions, price dynamics, and refinery flexibility. The decline of Iranian supplies due to sanctions, the rise of U.S. and African crude, and especially the rapid increase in discounted Russian oil since 2022 have reshaped India’s sourcing pattern. Today, India imports nearly 85% of its crude requirement, with Russia emerging as a leading supplier alongside Middle Eastern producers, reflecting a strategy focused on cost efficiency, energy security, and diplomatic balancing.
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