Indian refiners will continue to purchase Russian crude oil as the ongoing conflict in West Asia keeps the global market on tenterhooks regarding supply certainty.
Furthermore, concerns persist over the extensive time required to rebuild the region's damaged oil and gas infrastructure, indicating that it may take months to return to pre-war supply levels.
Sources indicate that Indian refiners intend to persist with Russian crude purchases despite the expiration of the sanctions waiver. The 30-day US sanctions exemption, which facilitated these oil imports from Moscow, is set to conclude on April 11.
This is because of the uncertainty over supply from key suppliers in West Asia, especially considering the lack of clarity on when normal traffic will resume in the Strait of Hormuz (SoH). Also, there is no clear estimation of the time it will take to rebuild the damaged infrastructure, said one of the sources.
“The supplies of crude oil, LNG and LPG from Saudi Arabia, Iraq, the UAE, and Qatar are adversely impacted, and so far there is no clear window of certainty on when full supplies can resume,” said another trading source.
Before February 28, 2026, West Asia accounted for around 50-52 per cent of India’s total crude oil imports, compared to roughly 40-45 per cent before the US sanctions on Russian firms Rosneft and Lukoil. At present, around 70 per cent of India’s crude oil imports are non-SoH.
Asked whether India will continue procuring Russian crude oil post the end of the US-sanctions waiver, Oil Ministry Joint Secretary Sujata Sharma said that crude imports are based on commercial decisions, keeping in mind the country’s “huge” demand.
“We are a very big country with a lot of energy needs. If you look at last year’s consumption, it is around 24-25 crore tonnes of petroleum products. Our priority is to source energy so that we can meet our domestic demand. The crude we purchase is driven by technical feasibility and the commercial sense it makes to our refiners,” she said at the inter-ministerial briefing on West Asia on Friday.
Published on April 10, 2026