https://sputniknews.in/20260313/russian-oil-supplies-helping-india-meet-energy-shortfall-govt-sources-10609343.html
Russian Oil Supplies Helping India Meet Energy Shortfall: Govt Sources
Russian Oil Supplies Helping India Meet Energy Shortfall: Govt Sources
Sputnik India
Addressing an inter-ministerial briefing in Delhi on Thursday, a senior official from the Indian Petroleum Ministry said that over 70% of India's crude was now being imported through routes outside the Strait of Hormuz.
2026-03-13T11:43+0530
2026-03-13T11:43+0530
2026-03-13T11:43+0530
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The spurt in Russian oil supplies to India have helped the South Asian economy meet its energy demand in the wake of the disruptions caused by the blocking of the Strait of Hormuz following the outbreak of US-Iran War, government sources have confirmed to Sputnik India.The surge in Russian barrels to India follows a US Treasury license issued on 5 March, which claimed that it allowed Indian refiners to buy Russian oil loaded on the tankers. Similarly, in another general license issued on Thursday, the US Treasury said that it would allow a "temporary authorization" till 11 April to permit countries to purchase Russian oil currently stranded at sea. These US actions mark a U-turn on part of the Trump administration, which, through an Executive Order (EO) in February, had threatened to re-impose a 25% penalty tariff on India if it bought Russian oil. US President Donald Trump has claimed on several occasions that PM Narendra Modi had assured him that India would stop buying Russian oil.For its part, India has also never publicly confirmed that it would stop buying Russian oil. "For us, Sir, the interests of the Indian consumer has and will always be the overriding priority," External Affairs Minister (EAM) S Jaishankar told the Parliament in a statement on 9 March.According to analysts and projections, Russian crude exports to India have already increased to 1.5 mbd since the US-Iran War began and could top 2 mbd in March.Indian Petroleum Minister Hardeep Singh Puri told the Parliament on Thursday that there was "no shortage" of petrol, diesel, kerosene, ATF or fuel oil. The minister said that while 45% of India's crude demand was being routed through the Strait of Hormuz before the US-Iran War began, over 70% of the demand was being routed through outside the Strait of Hormuz as of Thursday. He noted that India had structurally diversified its imports to source oil from around 40 countries.Briefing reporters on India's crude situation in Delhi on Thursday, Sujata Sharma, Joint Secretary at the Petroleum Ministry, said that India's crude situation remained "secure".On the other hand, Sharma described the situation with regards to Liquefied Petroleum Gas (LPG) in India as "difficult", noting that 90% of India's natural gas supplies came through the Strait of Hormuz.Meanwhile, amid the surge in Russian oil volumes to India, Lavrov and Jaishankar held a telephone call on Wednesday to discuss the Iran-US War and de-escalation efforts, including the roles of BRICS and the Shanghai Cooperation Organisation (SCO), according to an Russian MFA readout.Reacting to news reports that Iran had allowed Indian tankers to pass through the Strait of Hormuz, Jaiswal commented that it would be "premature" to say so. Jaishankar and his Iranian counterpart Seyed Abbas Aragchi have held three telephone calls since the war erupted, while Prime Minister Modi spoke to Iranian President Masoud Pezeshkian on Thursday evening.
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Russian Oil Supplies Helping India Meet Energy Shortfall: Govt Sources
Addressing an inter-ministerial briefing in Delhi on Thursday, a senior official from the Indian Petroleum Ministry said that over 70% of India's crude was now being imported through routes outside the Strait of Hormuz.
The spurt in Russian oil supplies to India have helped the South Asian economy meet its energy demand in the wake of the disruptions caused by the blocking of the Strait of Hormuz following the outbreak of US-Iran War, government sources have confirmed to Sputnik India.
The surge in Russian barrels to India follows a US Treasury license issued on 5 March, which claimed that it allowed Indian refiners to buy Russian oil loaded on the tankers. Similarly, in another general license issued on Thursday, the US Treasury said that it would allow a "temporary authorization" till 11 April to permit countries to purchase Russian oil currently stranded at sea.
These US actions mark a U-turn on part of the Trump administration, which, through an Executive Order (EO) in February, had threatened to re-impose a 25% penalty tariff on India if it bought Russian oil. US President Donald Trump has claimed on several occasions that PM Narendra Modi had assured him that India would stop buying Russian oil.
Russian Foreign Minister Sergey Lavrov told last month that “no one except Trump has said that India intends to stop buying Russian oil.”
For its part, India has also never publicly confirmed that it would stop buying Russian oil. "For us, Sir, the interests of the Indian consumer has and will always be the overriding priority," External Affairs Minister (EAM) S Jaishankar told the Parliament in a statement on 9 March.
Government sources said that New Delhi had in fact never stopped buying Russian oil despite US pressure. It has been noted that even in February, Russian crude exports to India averaged around 1-1.2 million barrels per day (bpd).
According to
analysts and projections, Russian crude exports to India have already increased to 1.5 mbd since the US-Iran War began and could top 2 mbd in March.
Indian Petroleum Minister Hardeep Singh Puri told the Parliament on Thursday that there was "no shortage" of petrol, diesel, kerosene, ATF or fuel oil. The minister said that while 45% of India's crude demand was being routed through the Strait of Hormuz before the US-Iran War began, over 70% of the demand was being routed through outside the Strait of Hormuz as of Thursday. He noted that India had structurally diversified its imports to source oil from around 40 countries.
"The availability of petrol, diesel, aviation turbine fuel, kerosene, and fuel oil is fully assured. Retail outlets across the country are stocked and supply chains for these products are functioning normally," Puri said.
Briefing reporters on India's crude situation in Delhi on Thursday, Sujata Sharma, Joint Secretary at the Petroleum Ministry, said that India's crude situation remained "secure".
Sharma said that the daily consumption was 5.5 million barrels and that India is the fourth largest refiner in the world with 22 refineries. Sharma said that Indian refiners were operating at "high-capacity" utilisation and in several cases they exceeded 100% refining capacity.
On the other hand, Sharma described the situation with regards to Liquefied Petroleum Gas (LPG) in India as "difficult", noting that 90% of India's natural gas supplies came through the Strait of Hormuz.
Meanwhile, amid the surge in Russian oil volumes to India, Lavrov and Jaishankar held a telephone call on Wednesday to discuss the Iran-US War and de-escalation efforts, including the roles of BRICS and the Shanghai Cooperation Organisation (SCO), according to an Russian MFA readout.
In response to a question whether energy security was also on the agenda in the Lavrov-Jaishankar call, India's Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal told a press briefing on Thursday, "We have given details of that conversation where the two leaders shared their perspectives and assessment on the ongoing conflict … and several other issues were also discussed."
Reacting to news reports that Iran had allowed Indian tankers to pass through the Strait of Hormuz, Jaiswal commented that it would be "premature" to say so. Jaishankar and his Iranian counterpart Seyed Abbas Aragchi have held three telephone calls since the war erupted, while Prime Minister Modi spoke to Iranian President Masoud Pezeshkian on Thursday evening.
"The safety and security of Indian nationals, along with the need for unhindered transit of goods and energy, remain India’s top priorities,” Modi posted on X after the call.
