India buys 60m barrels of Russian crude since Hormuz closure
India has just bought 60 million barrels of Russian crude since 5 March 2026, a big switch from its usual Middle Eastern suppliers.
This move happened because the Strait of Hormuz, which handles more than 40% of India's oil imports, was closed due to ongoing tensions.
The Oxford Institute for Energy Studies said the scale of the disruption is like no other seen in oil market history.
US waivers let Russian crude flow
US sanctions on Russian oil companies had earlier pushed India toward Middle Eastern oil, but recent waivers let Russian crude flow again, helping steady global prices and boosting Russia's earnings.
With trade through the Strait of Hormuz still disrupted and permanent shifts likely in global oil pricing, experts say India's role as a key fuel supplier could influence how US sanctions on Russian oil are applied.