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India’s Russian oil strategy endures despite expanding US sanctions

16 12
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India has once again demonstrated that its energy policy is guided by national interests rather than geopolitical pressure. New Delhi remained the second-largest buyer of Russian crude oil in October-behind only China-despite intensifying US sanctions on Rosneft, Lukoil, and even Indian imports. The latest data from the Center for Research on Energy and Clean Air (CREA) underscores a consistent trend: India’s reliance on discounted Russian oil has become firmly embedded in its energy security calculus, and Washington’s punitive measures have failed to deter it.

At the heart of this dynamic is an increasingly complex geopolitical chessboard. The US, seeking to pressure Moscow into winding down its military campaign in Ukraine, announced new sanctions on Russia’s two largest oil producers, Rosneft and Lukoil, on October 22. But far from shrinking India’s appetite for Russian oil, Moscow’s deep discounts-and New Delhi’s economic pragmatism-have instead strengthened their energy partnership.

According to CREA’s November 13 analysis, India spent $2.9 billion on Russian crude in October alone. This accounted for a staggering 81% of New Delhi’s total fossil fuel purchases from Russia during the month. Moreover, India’s crude imports from Russia surged by 11% month-on-month, outpacing the broader 8% increase in total fossil fuel imports.

The numbers show a striking persistence: even with Washington broadening........

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