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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy
Russian oil exports to India have surged, says Sergey Lavrov
By ANI · 2026-05-15 · via Commodity Market, Commodities News Today | The HinduBusinessLine
External Affairs Minister S. Jaishankar with Russian Foreign Minister Sergey Lavrov and Vice Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Waleed Abdulkarim El Khereiji at the family photo on the sidelines of the BRICS Foreign Ministers' Meeting, at Bharat Mandapam in New Delhi on Thursday.

External Affairs Minister S. Jaishankar with Russian Foreign Minister Sergey Lavrov and Vice Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Waleed Abdulkarim El Khereiji at the family photo on the sidelines of the BRICS Foreign Ministers' Meeting, at Bharat Mandapam in New Delhi on Thursday. | Photo Credit: ANI

Sergey Lavrov on Friday confirmed that Russian crude oil exports to India have surged, reinforcing a strategic partnership that continues to defy global pressures and Western sanctions.

Responding to a query from ANI during a media briefing on the sidelines of the BRICS Foreign Ministers’ Meeting in the national capital, the Kremlin’s top diplomat pointed to transparent records to validate increased oil supplies to India.

“We published this data in the global media... This information shows that oil supplies to India increased, and it does not depend on us, but on our Indian counterparts...,” Lavrov stated.

India continues discounted Russian oil purchases

It comes as India continues to buy discounted Russian oil despite Western sanctions, asserting that its procurement strategies are dictated by national interest, focusing on securing cost-effective fuel to power one of the world’s fastest-growing economies.

These observations reflect Moscow’s unwavering confidence in its energy alliance with India. Russia has solidified its position as a primary crude supplier for India. This shift mirrors a wider transformation of the global oil landscape, as geopolitical friction and evolving international regulations continue to redraw traditional trade routes.

Lavrov criticises US energy strategy

In a sharp critique of Washington’s broader strategy, Lavrov accused the United States of attempting to monopolise the world’s power resources while systematically squeezing Russian energy giants like Lukoil and Rosneft out of global supply chains.

He further asserted that the US leadership intends to “bring every significant energy supply route under their control.”

Earlier, Al Jazeera also reported that, according to a Russian diplomat, “The United States has adopted doctrinal documents proclaiming that it must dominate global energy markets.”

BRICS meeting held amid West Asia tensions

Sergey Lavrov is attending the high-profile BRICS Foreign Ministers’ Meeting in New Delhi, being held from May 14 to 15, where he is joined by Iranian Foreign Minister Seyed Abbas Araghchi.

The summit unfolds against a backdrop of deep internal divisions within the BRICS bloc regarding the volatile situation in West Asia and the escalating crisis in the Strait of Hormuz.

As regional geopolitics are rapidly reshaped by friction involving Iran, Saudi Arabia, the United Arab Emirates, and the United States, India continues to perform a delicate diplomatic high-wire act. New Delhi remains focused on balancing its strategic interests amidst the competing demands of these global and regional powers.

Published on May 15, 2026