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Russia Captures Record Share of India’s Oil Market
Russian crude reached a record 50.83% share of India’s oil imports last month, Reuters reported, despite U.S. sanctions pressure.
- In July 2026, Russian crude accounted for a record 50.83% of India's total import volumes, reaching 2.47 million barrels per day and marking the first time Russia surpassed half of India's purchases.
- Shifting reliance away from Middle Eastern suppliers has seen their combined share drop to about 30% from 43% last year, as India relies on imports for more than 90% of its crude needs.
- United Arab Emirates and Saudi Arabia provided significantly lower volumes, shipping 617,000 and 586,000 barrels daily respectively, while Russia's intake climbed 62.4% from a year earlier.
- Legislation passed by the U.S. Senate this month imposes 100% tariffs on purchasers of Russian oil, though the House of Representatives has yet to approve the measure, leaving impact on Indian refiners unresolved.
- A long-range drone strike halted the Omsk oil refinery in Siberia, Russia's largest plant and top gasoline producer, forcing Russia to import at least 60,000 tonnes of gasoline from India.
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Russian share of India's oil imports surges to record high in July
·London, United Kingdom
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In July, Russian oil accounted for 50.83% of India's black gold imports, a record figure.
·Kyiv, Ukraine
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50% Cut in Russian Oil Purchases Could Raise India's Oil Bill by USD 5-10 Bn, Push Inflation: Economist
Get latest articles and stories on Business at LatestLY. A 50 per cent reduction in Russian oil purchases could increase India's annual oil import bill by USD 5-10 billion and push inflation higher, economist Santosh Mehrotra said, amid the US proposal to impose punitive tariffs on countries buying Russian crude. Business News | 50% Cut in Russian Oil Purchases Could Raise India's Oil Bill by USD 5-10 Bn, Push Inflation: Economist.
·Mumbai, India
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India set a record for the share of Russian oil in imports: Moscow provided more than half of the supplies. For what you know, read tsn.ua (news 1+1).
Coverage Details
Total News Sources9
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
Factuality
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