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Russian oil’s share of India’s total imports rose to nearly 41% in April-June 2026, up from about 38% a year earlier. The Middle East’s share fell to 31% from 41.4% over the same period.
Indian refiners also increased imports of heavier crude grades from Brazil, Venezuela and Angola during the second quarter.
Indian refiners are expected to become more dependent on crude imports from Russia, West Africa and the Americas if shipments through the Strait of Hormuz remain disrupted and the Iran-aligned Houthi movement imposes a maritime blockade on Saudi Arabia, sources at Indian refineries said.
India, the world’s third-largest oil importer and consumer, imported 403,000 barrels per day from Saudi Arabia in June, primarily through the port of Yanbu.
Indian refiners remain dependent on supplies from Moscow and continue purchasing oil from companies not subject to sanctions after Washington revoked a temporary sanctions waiver for Russian crude, the sources said.
India increased its imports of Russian oil by 34% month over month in May to 8.96 million metric tons. The crude cost India $8.09 billion.
Russian oil accounted for 40% of India’s imports in May, up from 34% in April, keeping Russia in first place among the country’s oil suppliers.
India purchased nearly 100 million metric tons of crude oil in January-May, down 11.7% from the same period last year. Russian shipments fell 15% to 30.92 million metric tons during that period.
Read also: Kyrgyzstan plans 450,000-ton refinery to reduce dependence on Russian fuel
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Read the original article on The New Voice of Ukraine
Section: Business
Author: Дем'ян Шевко
