Making its energy security mandate clear, India has asserted that it will continue buying crude oil from Russia regardless of any sanctions waiver from the United States. The statement from Sujata Sharma, joint secretary in the petroleum ministry, follows a Bloomberg report suggesting that India had sought an extension of the sanctions waiver for procuring Russian crude.
India's Consistent Oil Purchases from Russia
Addressing a media briefing on Monday, Sharma emphasized that India has been sourcing oil from Russia before the waiver period, during it, and continues to do so now. “Regarding the American waiver on Russia, I would like to emphasize that we have been purchasing from Russia earlier, before the waiver also, during the waiver also, and now also,” she stated, as reported by Reuters.
She stressed that India’s oil purchases are guided primarily by commercial considerations and economic viability. Sharma also noted that the country has secured adequate crude supplies, and there is no shortage of oil availability.
Context of the Sanctions Waiver
India had reportedly requested the United States to continue its waiver allowing imports of Russian crude, as disruptions in the Strait of Hormuz have persisted for nearly 75 days, putting pressure on global oil supplies. Washington initially approved the waiver in March before extending it further, with the current waiver expiring on May 16. The exemption was aimed at easing pressure on global energy markets by enabling additional crude availability.
Although Russian oil itself is not subject to blanket sanctions, the Donald Trump administration has consistently encouraged India to scale back purchases of discounted Russian crude as part of broader efforts to isolate Moscow over the Ukraine conflict, according to a Bloomberg report.
Record Imports of Russian Oil
India’s purchases of Russian crude have remained elevated. According to Kpler data, Russian oil inflows into India have so far touched a record 2.3 million barrels per day in May, aided by the relaxation covering previously loaded cargoes. Kpler estimates indicate that average imports for the month could still remain around 1.9 million barrels per day.
India's stance underscores its commitment to energy security and economic pragmatism, even as geopolitical pressures continue to shape global oil markets.
