Russia remains India's top oil supplier despite US pressure
What's the story
India's crude oil imports from Russia fell slightly in September, but the country still accounted for over a third of India's total oil purchases. This comes despite US pressure to limit trade due to fears it could bolster Moscow's war effort in Ukraine. In September, India imported some 4.7 million barrels per day (bpd) of crude oil, up 220,000 bpd month-on-month and flat year-on-year.
Import dynamics
Russian crude imports dip slightly in September
Russian crude oil remained India's top single supplier, accounting for some 1.6 million bpd or 34% of total imports. However, this figure was about 160,000 bpd lower than the average Russian import volumes in the first eight months of 2025, preliminary data from global trade analytics firm Kpler showed. Despite this drop, Sumit Ritolia from Kpler said Russian barrels are still one of the most cost-effective feedstock options for Indian refiners due to their high GPW margins and discounts compared to alternatives.
Supplier ranking
Iraq, Saudi Arabia, UAE, and US follow Russia
After Russia, Iraq was the second largest supplier of crude oil to India at some 881,115 bpd. This was followed by Saudi Arabia and the UAE with supplies of 603,471 bpd and 594,152 bpd respectively. The US also featured in India's top five suppliers with an import volume of around 206,667 bpd.
Market shift
Russia became India's largest crude oil supplier after Ukraine war
Russia became India's largest crude oil supplier after the Ukraine war broke out in 2022, displacing traditional suppliers like Iraq and Saudi Arabia. The move came as some Western countries stopped buying Russian oil, leading Moscow to offer steep discounts. This prompted Indian refiners to increase their purchases of cheaper barrels to meet rising domestic demand.