India’s crude oil imports from Russia more than tripled to 5.3 billion euro in March, driven by higher volumes and rising prices. A temporary US sanctions waiver and increased availability of Russian crude supported the sharp rise in purchases
The announcement comes as both countries sign multiple agreements, covering sectors from fertilisers and food safety to shipping and maritime logistics
India will scale down direct Russian crude imports from late November as US sanctions on Rosneft and Lukoil take effect. Reliance, MRPL, and HPCL-Mittal have halted purchases, triggering a sharp decline in December arrivals, with gradual recovery expected via intermediaries
