In September 2026, Russian Ambassador to India Denis Alipov announced that Moscow is prepared to provide India with unlimited crude oil supplies. This offer aims to support India's energy security amid ongoing pressure from Western sanctions.
During 2025–2026, Indian imports of Russian crude reached a peak of over 2 million barrels per day. At that time, Russian oil accounted for approximately 55% of India's total crude imports.
Import volumes have experienced significant volatility, fluctuating between 400 000 and 1 million barrels per day due to regulatory changes and sanctions pressure. India remains the world's third-largest oil consumer.
Major Indian refiners, including Reliance Industries, Nayara Energy, and Indian Oil Corporation, continue to manage procurement strategies by balancing discounted Russian oil with supplies from the Middle East and Africa.
The shift in trade routes has impacted global energy markets, as oil previously destined for Europe now reaches Indian ports. Investors are currently factoring in regulatory risks alongside the benefits of higher refining margins from discounted Russian crude.