India imported around 1.769 mb/d Russian crude in 2024 on an average.
India’s crude oil imports from Russia have remained stable, with August 2025 figures reflecting cargoes booked well before recent geopolitical tensions escalated. Despite pressure from the US, government officials, analysts, and traders all indicate that future supplies from Russia will continue.
India’s stance is clear; economics and energy security are the top priorities. A top government official emphasised that the country will continue to purchase crude that is economically viable.
“India will continue to buy crude that meets economics. That apart, it’s also about energy security and strategic autonomy in a multi-polar and volatile world,” the official said.
This sentiment is echoed by analysts who points out that India is unlikely to abruptly pivot away from Russian crude because Russian barrels are the cheapest option available.
For Indian refiners, the math is simple. With Russian crude currently offering a discount of over $3 a barrel, and signals of a potential 5 per cent discount on future cargoes, it remains the most commercially viable choiceUrals discount has risen (against Brent) since the second week of August, a refinery official said.
Global real-time data and analytics provides Kpler data support this, showing that while India’s intake of Russian crude has been steady, this is due to contract timing. August and early September arrivals reflect agreements made in July. Any real impact from tariffs or shipping issues won’t be seen until late September onwards.
According to Kpler data, Russian cargoes stood at roughly 1.67 mb/d (provisionally) in August 2025, higher by almost 6 per cent M-o-M, but fell 4 per cent Y-o-Y.
India imported around 1.769 mb/d Russian crude in 2024 on an average. During January to August, 2025, it imported roughly 1.768 mb/d, Kpler data shows.
August crude procurement is generally on the lower side as domestic consumption is low due to rains. Planned refinery maintenance season also kicks around this time.
The decline in crude oil imports is also due to lower cargoes at Nayara Energy’s Vadinar refinery for the second consecutive month in August, said a trade source.
“India is unlikely to abruptly pivot away from Russian crude,” stressed Sumit Ritolia, Kpler’s Lead Research Analyst for Refining & Modeling.
US cargoes
India has also increased its crude oil purchases from the US during 2025. American cargoes to India during 9M 2025 averaged at around 282,000 b/d, Kpler data shows.
America’s crude oil market share, which stood at 6.92 per cent in April 2025 (of total Indian imports), fell to 5.49 per cent a month later. However, its share rose again to 6.41 per cent and a record 7.72 per cent (barring 2021) in June and July, respectively. In August, the share stood at a little over 5 per cent.
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Published on September 7, 2025