Record Russian Oil Imports in June
India's imports of Russian crude oil surged by 39% in June 2026 compared to the previous month, reaching an all-time high of 2.2 million barrels per day (bpd). This marks the highest monthly volume ever recorded, according to data from energy analytics firm Vortexa. The increase comes as Indian refiners snapped up discounted Russian barrels, taking advantage of price caps and sanctions waivers.
US Shipments Plunge
In contrast, shipments from the United States fell dramatically, dropping by 45% in June to just 0.3 million bpd. The decline reflects a shift in Indian buying patterns, as US crude became less competitive due to higher prices and logistical challenges. In May, US exports to India had been elevated due to temporary supply disruptions elsewhere.
Top Suppliers List
Russia retained its position as India's largest oil supplier for the 14th consecutive month. Iraq was the second-largest supplier with 0.9 million bpd, followed by Saudi Arabia at 0.7 million bpd. Other major suppliers included the United Arab Emirates, Kuwait, and Nigeria. The top six suppliers accounted for over 85% of India's total crude imports in June.
Impact on India's Energy Security
The surge in Russian imports has helped India secure cheaper energy, with discounts estimated at $5-7 per barrel compared to Brent crude. However, it has also drawn scrutiny from Western nations, which have imposed sanctions on Russian oil following the Ukraine conflict. Indian officials maintain that the purchases are legal and necessary for the country's energy security. "India will continue to buy oil from wherever it gets the best deal for its people," said a Ministry of Petroleum spokesperson.
Global Market Dynamics
The increase in Indian imports comes as Russia redirects oil exports from Europe to Asia. India's refining capacity expansion has also boosted demand. Meanwhile, OPEC+ production cuts have tightened global supply, making discounted Russian oil even more attractive. Analysts expect Indian Russian oil imports to remain elevated in the coming months, barring any major policy shifts.
