India’s Russian crude buying faces uncertainty after legislation passed by the US Senate this ​month to impose tariffs of ‌100% on buyers of Russian oil.

Indian dependence on Russia’s crude surged to a record in July, with ​shipments from the country making up 50.83 per cent of imports by ‌the third-biggest oil buyer and consumer, or 2.47 million ​barrels per day, data from trade sources showed.India’s ⁠July imports of Russian oil were up 62.4 per cent from a year earlier, but down 4.8 per cent from June’s record figure of 2.6 million ‌bpd, the data showed.In January, Indian refiners began cutting Russian oil imports to avoid higher US ‌tariffs as New Delhi negotiates a trade deal with ‌Washington.However, ⁠disruptions to Middle East supply triggered by ⁠the Iran war compelled Indian refiners to keep buying Russian barrels.Uncertainty loomsBut India’s Russian crude buying faces uncertainty after legislation passed by the US Senate this ​month to impose tariffs of ‌100 per cent on buyers of Russian oil, stepping up economic pressure on Moscow over its 2022 invasion of Ukraine.The House of Representatives has yet to approve the ‌measure.Russia’s share of India’s crude imports hit a ​record 43.25 per cent in the first four months of the financial year that began in April, averaging ⁠more than 2 million bpd, up from a share of about 37 per cent a year earlier, the data showed.The shift ‌came largely at the expense of Middle Eastern suppliers, whose share of India’s crude imports fell to about 30 per cent in the period from April to July, versus 43 per cent a year earlier.The share of Latin American oil rose from 3.5 per cent to 12.7 per cent, mainly due to higher imports from ‌Brazil and Venezuela, the data showed.India relies on imports for more ​than 90 per cent of its crude oil needs, making it vulnerable to disruptions in global oil trade. Russia ⁠remained India’s largest crude supplier during the April-July period, while ⁠the United Arab Emirates overtook Iraq to become the second-largest supplier, the data showed.The UAE, which exited ‌OPEC in April, has been offering large volumes through spot tenders, allowing Indian refiners to increase purchases. Last ​year, the UAE was India’s No. 4 supplier.Published on August 14, 2026