Rehman Abubakr
The agency reports that in the past months, India—the third-largest buyer of crude oil globally—has obtained over half of its total imports from Russia, aiming to counter elevated prices and continued supply issues from the Middle East. Nonetheless, sources suggest that major Indian refiners have lately started to thoroughly investigate alternative choices.
The report indicates that imports of Russian oil to India have decreased; Kpler predicts that September's volumes may reach roughly 1.9 million barrels per day, the lowest since April.
Nonetheless, substituting Russian resources will be challenging: the quantities needed vastly surpass what nations such as Venezuela or Iran can provide, and costs continue to be elevated, the agency reports. As reported by Argus Media, the price of Russian Urals crude arriving in India was about $133 per barrel at the conclusion of last week, whereas the costs for Middle Eastern varieties like Oman and Murban were a few dollars more.
In August 2025, Trump signed an executive order that imposed extra 25% tariffs on imports from India, referring to the country's "direct or indirect" imports of Russian oil. In February of this year, Trump issued an order canceling those extra tariffs.
source: bloomberg.com
The report indicates that imports of Russian oil to India have decreased; Kpler predicts that September's volumes may reach roughly 1.9 million barrels per day, the lowest since April.
Nonetheless, substituting Russian resources will be challenging: the quantities needed vastly surpass what nations such as Venezuela or Iran can provide, and costs continue to be elevated, the agency reports. As reported by Argus Media, the price of Russian Urals crude arriving in India was about $133 per barrel at the conclusion of last week, whereas the costs for Middle Eastern varieties like Oman and Murban were a few dollars more.
In August 2025, Trump signed an executive order that imposed extra 25% tariffs on imports from India, referring to the country's "direct or indirect" imports of Russian oil. In February of this year, Trump issued an order canceling those extra tariffs.
source: bloomberg.com