As of April 2026, reports indicate that India's imports of Russian oil significantly surged, with volumes doubling in March compared to previous months. This dramatic increase is largely due to geopolitical tensions in the Middle East, particularly the ongoing conflict involving Iran. In March alone, India's purchases from Russia amounted to 2.25 million barrels per day, accounting for 50% of its total imports, as Middle Eastern oil drastically declined.

The country's total oil imports for March stood at approximately 4.5 million barrels per day, with imports from Russia increasing nearly 148% from February. The U.S. Treasury's decision to extend the waiver for purchasing Russian oil has allowed Indian refiners to capitalize on discounted prices, reinforcing their status as one of the largest buyers of Russian crude.

Due to these circumstances, Indian refiners have been sourcing 38% of their crude oil from Russia, making it the second-largest buyer after China. The Middle East's share in India's oil imports has dropped to a historic low of 26.3%, primarily due to halted shipments through the Strait of Hormuz following attacks on tankers and geopolitical instability.

Experts assert that this trend is likely to continue, as the shadow fleet—tankers used to transport oil without revealing their origins—allows for a steady supply of Russian crude. Even though increased transportation costs are a concern, officials from India's Ministry of Petroleum and Natural Gas have indicated that the commercial viability of Russian oil remains favorable amidst fluctuating global energy markets.

Given that India imports around 90% of its oil, the dependence on both Middle Eastern and Russian oil sources exposes the nation to potential supply chain disruptions and price volatility. Analysts suggest that even under favorable conditions, alternatives for sourcing oil at the required volumes—without using the volatile routes through the Hormuz Strait—are limited.

In summary, India's rapid increase in Russian oil imports signifies a strategic pivot in its energy sourcing, driven by both geopolitical shifts and economic necessity.