India's crude oil imports from Russia are poised to reach a record high in June 2026, according to data from Kpler, a global real-time data and analytics provider. Russia has been India's largest crude supplier for several years, following the Ukraine war that made Russian oil economically attractive.
Monthly Import Trends
Monthly imports dipped in late 2025 when sanctions on Russian oil majors Rosneft and Lukoil forced Indian refiners to seek alternatives. However, the US-Iran conflict disrupted Middle Eastern oil supplies, prompting India to ramp up Russian crude procurement under a three-month US sanctions waiver. Import levels have since approached all-time highs.
Record-Breaking Figures
According to Sumit Ritolia, Manager of Modelling and Refining at Kpler, India's crude imports from Russia could hit 2.35 million barrels per day (bpd) in June. Data up to June 19 shows average imports of 2.66 million bpd, surpassing the previous peak of 2.158 million bpd in May 2023. Ritolia noted, "India's imports remained strong through June, supported by continued discounts and steady refinery demand. Russian barrels remain competitive against global benchmarks."
Since the US-Iran war began, Russia has supplied over 270 million barrels of crude to India, nearly five times more than Saudi Arabia, the next largest supplier.
Strategic Shift in Imports
Kpler's analysis indicates that India's crude import strategy shifted sharply from March 2026 due to Strait of Hormuz disruptions, which tightened Middle Eastern flows and increased freight risks. Ritolia explained, "Russian crude remains the backbone of India's import slate, while refiners have diversified toward Atlantic Basin and Venezuelan barrels to offset weaker Gulf availability." He expects India's crude mix to remain broadly unchanged, with supply security and economics favoring Russian and non-Strait of Hormuz-linked barrels.
Ritolia believes that regardless of whether the US waiver is extended, Indian imports of Russian crude will stay robust, though possibly not at record levels. The Trump administration allowed the sanctions waiver to expire this week. While past waivers were extended shortly after lapsing, the US-Iran peace memorandum of understanding and hopes of resolving Strait of Hormuz disruptions may prevent renewal.
Middle East Oil Flows
The Strait of Hormuz remains a key focus for global energy markets following the interim peace agreement between the US and Iran, which is expected to gradually resume maritime traffic. During the conflict, oil and gas shipments through the route nearly halted due to restrictions by both nations. Vessel movement has since started recovering, with ships slowly returning to the corridor.
Kpler data cited by Bloomberg shows that India's imports of Middle Eastern crude, mostly via term contracts, dropped in the second quarter to their lowest since at least 2013. To compensate, state-run refiners increased spot purchases from alternative sources like Russia and South American countries.
