India’s Russian Oil Imports Set to Reach Five-Month Peak
According to the data, New Delhi’s acquisitions of Russian oil are anticipated to reach 1.855 million barrels per day (bpd) this month, marking a 25% increase compared with October, the report noted.
“Russian supply is expected to be high in November as many refineries tried to fill the stocks prior to the US sanctions deadline and also due to the rule for oil products production for EU market from non-Russian oil from 2026,” a trading source told the news agency.
The United States introduced sanctions on October 22, setting a November 21 deadline for firms to cease interactions with Russian oil giants Rosneft and Lukoil.
Meanwhile, the European Union has established a January 21 cutoff, after which fuel from refineries that processed Russian crude within 60 days of the bill of lading will no longer be accepted.
Since 2022, Russia has been India’s leading oil supplier.
Over this period, India has also become a key exporter of refined fuels to Europe.
The US previously imposed a 50% tariff on India, half of which was a reciprocal levy and the other half a penalty for importing Russian oil.
New Delhi has defended its Russian oil purchases, emphasizing that its energy strategy is guided by “national interest,” while simultaneously broadening its trade relations with the US.
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