India does not face an immediate crude oil shortage. Russian crude imports continue even after the US sanctions waiver expired, with volumes stabilising at around 1.9 to 2 million barrels per day, supporting supply. However, global uncertainty remains, with geopolitical tensions and constraints in the Strait of Hormuz affecting oil flows. For India, Russian crude continues to offer both pricing and logistical advantages.
Published on May 20, 2026
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