Amid Strait of Hormuz Crisis, India's Russian Oil Imports See 82.3% Increase

Last year, the Trump administration had imposed a 25% ‘penalty’ tariff on Indian exports citing the purchase of Russian crude, atop an already heavy 25% ‘reciprocal’ tariff.

The Wire Staff

Last year, the Trump administration had imposed a 25% ‘penalty’ tariff on Indian exports citing the purchase of Russian crude, atop an already heavy 25% ‘reciprocal’ tariff.

amid strait of hormuz crisis india s russian oil imports see 82 3 increase

A cargo ship carrying vehicles sails through the Arabian Gulf toward the Strait of Hormuz in the United Arab Emirates, Sunday, March 22, 2026. Photo: AP.

New Delhi: India’s Russian oil imports in March are nearing historic peaks as owing to the continued crisis in Western Asia as a result of the US and Israel’s war on Iran, and the subsequent closure of the Strait of Hormuz, the waterway through which around half of India’s recent oil imports have transited in recent months.

Oil imports from Russia have registered a whopping 82.3% increase from February levels to 1.9 million barrels per day (bpd) in the March 1-25 period. In March, Russia’s share in India’s oil imports amounts to 45.2% so far, which is much higher than 20.1% in February, reported Indian Express.

India is dependent on imports to meet more than 88% of its crude oil needs. A large chunk of these imports come from Iraq, Saudi Arabia, the UAE, and Kuwait, and transit through the Strait of Hormuz.

The Indian Express report added that India’s Russian oil imports for the entire month could be 2 million barrels per day (bpd), and it is also expected that the number will be same in April as well. Indian refiners have already bought about 60 million barrels of Russian crude for delivery through April.

“In historical context, India’s highest monthly procurement of Russian crude since the start of the Russia-Ukraine war was in the around 2–2.1 million bpd range. The current surge is therefore approaching prior peaks, though not materially exceeding them at this stage. What stands out is the speed of the rebound: as Middle Eastern supplies via Hormuz dried up, Indian refiners were able to lift Russian purchases by close to 0.8–1.0million bpd, helping cushion the disruption without materially affecting refinery runs so far,” Sumit Ritolia, Lead Research Analyst, Refining & Modeling at Kpler, told the newspaper.

Last year, the Trump administration had imposed a 25% ‘penalty’ tariff on Indian exports citing the purchase of Russian crude, atop an already heavy 25% ‘reciprocal’ tariff. This penalty was withdrawn earlier this year but Trump had said that his government could consider re-imposing the levy were New Delhi to “directly or indirectly” resume intake.

Earlier this month, the US Treasury Department had “authorised” the sale of Russian oil to India for a period of 30 days, an effort meant to relieve price pressures caused by the ongoing conflict with Iran.

This article went live on March twenty-seventh, two thousand twenty six, at eight minutes past four in the afternoon.

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