https://sputniknews.in/20250904/indias-oil-imports-from-russia-set-to-rise-significantly-in-september-9713687.html
India's Oil Imports From Russia Set to Rise Significantly in September
India's Oil Imports From Russia Set to Rise Significantly in September
Sputnik India
India's oil imports from Russia experienced an upward trajectory in August, despite the US imposing a 25 percent additional duty on New Delhi for its energy... 04.09.2025, Sputnik India
2025-09-04T20:16+0530
2025-09-04T20:16+0530
2025-09-04T20:16+0530
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India's rise in Russian crude imports during August is a strong signal that volumes are likely to increase further in September after imports reached approximately 1.7 million barrels per day (mbpd) in August — a 6% increase over July — despite the imposition of new US tariffs, a crude expert has said.Notably, cheaper Russian oil is playing a key role in effectively offsetting the impact of American tariffs on Indian exports, he added.Russian oil has emerged as a critical economic buffer for India. It has helped absorb inflationary pressures, lowered foreign exchange outflows, and allowed Indian refiners to benefit from global price differentials. The reduced oil import bill has eased the burden on India's current account deficit and supported rupee stability, he noted.More importantly, by deepening energy ties with Russia, India has diversified its crude supply sources beyond the Middle East, strengthened its energy security, and facilitated some transactions in rupees or dirhams — marking a gradual shift away from dollar dependence. While this alignment does involve navigating complex geopolitical considerations, the economic upside for India, at least for now, is both clear and significant, the analyst summed up.It is worth highlighting that India is the world's largest buyer of Russian seaborne crude, with the Eurasian state holding an over 35 percent share in the South Asian country's oil basket.These statistics have become a bone of contention between the US and India; however, Prime Minister Narendra Modi's government has repeatedly pushed back against a non-stop and often daily tirade launched by the American administration over New Delhi's imports of oil from Moscow.Interestingly, White House trade adviser Peter Navarro has accused India of profiteering from Russian crude, something the latter's Oil Minister Hardeep Singh Puri vehemently denied.
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India's Oil Imports From Russia Set to Rise Significantly in September
India's oil imports from Russia experienced an upward trajectory in August, despite the US imposing a 25 percent additional duty on New Delhi for its energy trade with Moscow.
India's rise in Russian crude imports during August is a strong signal that volumes are likely to increase further in September after imports reached approximately 1.7 million barrels per day (mbpd) in August — a 6% increase over July — despite the imposition of new US tariffs, a crude expert has said.
"This upward trend reflects both commercial pragmatism and stable demand from Indian refiners. Crude flows from Russia to India are expected to rise by an additional 10–20% in September, indicating a clear continuation of the momentum seen in recent months," Arpit Chandna, an Energy Market Specialist at the London Stock Exchange Group (LSEG) firm Refinitiv, told Sputnik India.
Notably, cheaper Russian oil is playing a key role in effectively offsetting the impact of American tariffs on Indian exports, he added.
"These savings not only cushion the cost pressures imposed by tariffs but also make Russian crude more economically attractive, particularly for state-run refiners who are now securing better gross refining margins (GRMs). Beyond pricing, India's continued energy partnership with Russia ensures reliable crude supplies, which are critical for maintaining stability in the domestic fuel market, Chandna underlined.
Russian oil has emerged as a critical economic buffer for India. It has helped absorb inflationary pressures, lowered foreign exchange outflows, and allowed Indian refiners to benefit from global price differentials. The reduced oil import bill has eased the burden on India's current account deficit and supported rupee stability, he noted.
More importantly, by deepening energy ties with Russia, India has diversified its crude supply sources beyond the Middle East, strengthened its energy security, and facilitated some transactions in rupees or dirhams — marking a gradual shift away from dollar dependence. While this alignment does
involve navigating complex geopolitical considerations, the economic upside for India, at least for now, is both clear and significant, the analyst summed up.
It is worth highlighting that India is the world's largest buyer of Russian seaborne crude, with the Eurasian state holding an over 35 percent share in the South Asian country's oil basket.
These statistics have become a bone of contention between the US and India; however, Prime Minister Narendra Modi's government has repeatedly pushed back against a non-stop and often daily tirade launched by the American administration over New Delhi's imports of oil from Moscow.
Interestingly, White House trade adviser Peter Navarro has accused India of profiteering from Russian crude, something the latter's Oil Minister Hardeep Singh Puri vehemently denied.
"India's adherence to all international norms prevented a catastrophic $200 per barrel shock. Some critics allege that India has become a 'laundromat' for Russian oil. Nothing could be further from the truth," Puri wrote in an editorial for the publication, The Hindu.
