⛽ Russia supplies over half of India's crude oil imports
A sharp cut in Russian crude oil imports could significantly raise India's oil import bill and disrupt refinery operations. According to GTRI, Russia supplied an estimated 52% of India’s crude-oil imports in July, up from 48.6% in June. This high reliance comes as Russia’s share climbed from 15% in 2022 to 30.3% in FY2025-26. Proposed US sanctions could force India to choose between reduced Russian oil purchases and facing up to 100% tariffs. GTRI advises India to keep buying Russian crude as long as it remains commercially attractive and complies with rules. ⛽