India's daily oil imports from Russia exceed 2.6 million barrels in June-July

en.Wedoany.com Reported - From June to July, India imported more than 2.6 million barrels of oil per day from Russia, accounting for over half of its total overseas imports. This figure was reported by the Financial Times, citing data from the analytics firm Kpler.

The import peak occurred in July, with supply reaching 2.8 million barrels per day, the highest level since 2022. For comparison, in February, India imported approximately 1 million barrels of oil per day from Russia.

This surge in imports comes against the backdrop of the Persian Gulf crisis. Last year, after U.S. President Donald Trump accused New Delhi of funding the Ukraine conflict, India temporarily reduced its oil purchases from Russia. Following the disruption of Middle Eastern oil transport through the Strait of Hormuz, Indian refiners turned back to Russian crude. In response, the U.S. granted India sanctions waivers, allowing it to purchase Russian oil to mitigate the impact of the crisis.

New Delhi's stance remains unchanged. Indian Foreign Minister Subrahmanyam Jaishankar stated at the Delhi Global Leaders Forum: "We will act in the way that is most beneficial to Indian consumers." A representative of India's Ministry of External Affairs noted that India will not make decisions to please others or grab headlines.

These remarks come as a bill has been submitted in the U.S. House of Representatives proposing a 100% tariff on major buyers of Russian oil and gas. India is the world's third-largest oil importer, relying on imports for over 88% of its demand, and Russia remains a key supplier.

Russia's First Deputy Prime Minister Denis Manturov emphasized at the intergovernmental commission meeting that cooperation with India in the field of energy security is one of Russia's priorities. He added that in addition to supplies of oil, petroleum products, and coal, both sides are also implementing joint investment projects in oil and gas extraction and processing.