US EditionSanctions Rattle India's Russian Oil Import Strategy
New US sanctions limit purchases from key Russian oil firms, cutting India’s imports from 1.8 million to around 400,000 barrels per day by early 2026, analysts said.
- On November 21, new US sanctions on Moscow's top oil exporters took effect, and analysts say Indian refiners' imports of Russian crude will drop sharply in the near term.
- On November 20, Reliance Industries, world's biggest buyer of seaborne Russian crude, halted imports into its 7,04,000 bpd SEZ refinery to comply with EU rules banning fuels derived from Russian crude.
- Refiners such as HPCL‑Mittal Energy and Mangalore Refinery have temporarily halted Russian imports while Rosneft‑backed Nayara Energy remains an exception due to reliance on discounted barrels, and they face uncertainty over compliant shipping and banking.
- Analysts project Russian arrivals could fall sharply in December and January, potentially dropping to around 400,000 bpd, prompting refiners to increase imports from the Middle East, Latin America, West Africa and North America.
- Because the sanctions target companies rather than all oil, Russian crude from non‑sanctioned producers like Surgutneftegaz can flow legally, and analysts say volumes depend on Western enforcement and India's energy policy priorities.
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India's Russian crude imports set to decline sharply following new US sanctions
India's imports of Russian crude oil, the key feedstock for fuels like petrol and diesel, are expected to drop sharply in the near term as new US sanctions on Moscow’s top oil exporters, Rosneft and Lukoil, take full effect. The sanctions, effective from November 21, have effectively turned crude linked to these companies into a “sanctioned molecule,” limiting Indian refiners’ ability to purchase directly from them. Near-term supply disruptions …
New US sanctions threaten to disrupt India's Russian oil lifeline
India's imports of Russian crude oil will see a significant drop soon. New US sanctions target key Russian oil exporters. Refiners are adjusting to these changes. While direct imports will decrease, Russian oil will likely continue to flow through alternative channels.
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