India has firmly declared it will continue importing Russian crude oil regardless of the expiry of US sanctions waivers, emphasising that national energy security and commercial viability remain paramount.
Officials assured that there is no shortage of crude, with supplies repeatedly secured, even as global oil prices hover above USD 110 per barrel amidst West Asian turmoil.
India’s announcement came after the Trump administration allowed a key sanctions waiver tied to Russian seaborne oil to lapse over the weekend. Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, stressed during a media briefing that India’s import strategy has remained consistent across all phases of the waiver system.
She explained that purchases from Russia were made before the waiver, during its validity, and will continue after its expiry, underscoring that the waiver’s lapse does not alter New Delhi’s buying patterns.
Sharma highlighted that India’s crude sourcing frameworks are dictated entirely by market dynamics and robust supply networks. She noted that commercial sense drives procurement decisions, with affordability and supply security being the guiding principles.
This approach ensures that India’s energy lifelines remain resilient against overseas geopolitical crosscurrents and vulnerabilities across global maritime shipping lanes.
The official reassured domestic audiences that there is no shortage of crude, as sufficient volumes have been tied up repeatedly through long-term arrangements. She emphasised that the waiver’s expiry would not affect availability, reflecting confidence in India’s diversified import matrix.
This assertive stance comes at a time when international oil indices are holding at elevated thresholds, driven by regional conflict and persistent anxieties regarding potential supply bottlenecks around the strategic Strait of Hormuz.
Global energy markets have experienced sustained volatility following a series of kinetic strikes linked to the broader West Asian crisis. Brent crude was trading upwards by 0.93 per cent at USD 110.28 per barrel, while US counterpart WTI crude climbed 0.85 per cent to USD 106.32 per barrel. These elevated prices have intensified concerns about disruptions to global energy distribution networks, yet India has sought to insulate its domestic market from such shocks.
Over the past few years, Russian crude has become a cornerstone of India’s diversified oil import portfolio. Moscow’s supplies are frequently secured at competitive discounted rates relative to alternative global benchmarks, making them commercially attractive.
Data from shipping trackers indicates that Russian crude shipments to India reached about 2.3 million barrels per day in May, with monthly averages expected to remain close to 1.9 million barrels per day. This steady intake has helped Indian refiners manage elevated global energy costs while ensuring uninterrupted domestic availability.
India had earlier sought an extension of the US sanctions waiver amid continuing disruptions in the Strait of Hormuz, which have lasted for nearly 75 days. The waiver, initially granted in March and later extended in April, was intended to stabilise international oil markets by ensuring additional crude availability.
However, despite Washington’s repeated urging to scale back purchases of discounted Russian crude, India has maintained high import levels, citing national interest and economic pragmatism.
Russia has also assured India of readiness to step up supplies of crude oil and liquefied natural gas, reinforcing the bilateral energy partnership. This assurance aligns with India’s broader strategy of diversifying energy sources and securing reliable flows amidst global volatility.
The petroleum ministry’s latest declaration signals that India is poised to sustain its intake of Russian oil independent of Western regulatory shifts, provided supplies remain commercially viable and structurally accessible.
ANI
