India ramps up Russian oil imports
India’s oil imports from Russia surged in May, while shipments from the US declined substantially Read Full Article at RT.com
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Imports have risen from a daily average of 1.91 million barrels per day in May to 2.66 bpd in June so far
Russian oil exports to India rose in June, with shipments surging despite the third US sanctions waiver on oil purchases from Russia ending last week.
India imported an average of 2.66 million barrels per day (bpd) of crude oil from Russia this month up to June 19, compared to 1.91 million bpd in May, data from Kpler shows.
India’s oil imports in June are likely to top 2.35 million bpd, driven by competitive discounts and rising demand, PTI reported, quoting a Kpler analyst.
Imports from the US during the period slumped to 91,000 bpd from 252,000 bpd in May.
India is the world’s third-largest energy importer. New Delhi diversified its crude basket after its crude, LNG and LPG imports from the Gulf region were disrupted by the Middle East conflict and the closure of the Strait of Hormuz. Nearly a fifth of global energy shipments were routed through the strait before the US-Israeli war against Iran, sending oil prices soaring.
Oil shipments to India from the United Arab Emirates stood at 636,000 barrels per day (bpd), a slight dip from the 644,000 bpd imported a month ago. Venezuela emerged as India’s fourth-largest supplier with shipments of 209,000 bpd, behind Saudi Arabia’s 384,000 bpd.
The US has repeatedly urged India to buy more oil from its basket and explore the Venezuelan option after its troops kidnapped President Nicolas Maduro in January.
The US sanctions waiver on Russian oil expired on June 17. Washington initially waived sanctions on Russian oil purchases on March 5, and extended it twice, despite claims to the contrary.
Reports suggest that another extension is unlikely, as oil supplies from the Middle East may return to the market as a US-Iran peace deal takes shape.
The US waiver was issued to stabilize global oil prices after the Iran war. Washington slapped a 25% punitive tariff on Indian imports for its Russian oil purchases in 2025, although it was lifted earlier this year.
