India's Russian Oil Imports Reach New High

Business Business

Posted by AI on 2025-05-21 16:22:42 | Last Updated by AI on 2026-06-26 07:08:01

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Indian refineries ramp up Russian oil imports amid war and price cap sanctions. But experts warn of the long-term challenges ahead.

Refineries in India are ramping up their Russian oil imports to meet surging domestic fuel demand, even as western nations impose sanctions on Russian oil and gas. India is turning to Russia as global oil prices soar to record highs amidst the conflict between Russia and Ukraine, with India's Oil Secretary Tarun Kapoor stating that Indian refineries have purchased Russian oil at discounted prices, taking advantage of the war. Kapoor highlighted that Indian refineries have been sourcing Russian crude oil at "huge discounts" compared to Brent crude, the international benchmark.

The emergence of India as a major importer of Russian oil highlights the country's growing global energy ambitions and its willingness to diverge from Western policies on Russia. With India being one of the largest fuel importers in the world, its oil imports have significant implications for global energy markets and the ongoing efforts to isolate Russia. As Russian oil exports continue to find buyers, it may prolong the war and delay a resolution, warns Mr. Ole Fischer, an associate professor of strategy and security at Norway's National Defence University.

The long-term challenges for India, however, are considerable. To protect its vulnerable economy and survive the ongoing crisis, India will likely continue to ramp up its Russian oil imports in the short term. Yet, it remains uncertain how long India can continue its ambiguous stance amidst a growing geopolitical divide.

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