India’s oil imports from Russia: India does not need permission to buy Russian oil, officials say –

NEW DELHI: India never stopped sourcing crude oil from Russia, government sources said on Saturday, despite US President Donald Trump linking the withdrawal of 25% tariffs under the proposed trade deal to New Delhi’s alleged pledge to stop such purchases.

The sources said that India had never relied on permission from any country to buy Russian oil, and Russia remained the largest supplier of crude in February. They added that energy procurement decisions in India are guided by the principle: “National interest”. “We import crude oil from wherever supplies are available, at competitive and deliverable prices, and we will continue to do so.” A government source said.

Advertisement A “30 day waiver” Sources said that senior US officials said that India’s purchase of Russian oil was intended for their domestic audience.

An official says Hormuz is not the only route, as only 40% of India’s crude oil imports pass through it“This has been our consistent position across administrations and geopolitical cycles,” a government source said, adding that every decision the government makes in the oil sector is guided by three criteria: affordability, availability and sustainability. US Treasury Secretary Scott Besent said late Thursday that the Trump administration had granted a temporary 30-day waiver allowing Indian refiners to buy Russian oil stuck at sea so that supplies could continue to flow to the global market and ease pressure caused by Iran’s blockade of the Strait of Hormuz.

US Energy Secretary Chris Wright also later said that Washington had informed India about purchasing surplus Russian barrels floating around South Asia. Government sources said that the 30-day exemption only removes a point of friction that was not in the interest of either party to continue. The officials said that during the three years of the Russia-Ukraine war since 2022, India continued to buy oil from Moscow due to the deep discounts it was offering and demand from refineries despite objections from the United States and the European Union.To suggest that short-term concession enabled these purchases to take place ignores the fact that trade continued steadily.India’s crude oil imports from Russia in February amounted to just over 1 million bpd, nearly 20% of its total purchases, compared to 1.1 million bpd in January and 1.2 million bpd in December.The officials also said that India has expanded its supplier base from 27 to 40 countries, and its energy security is no longer tied to conditions at a single maritime checkpoint such as the Strait of Hormuz. “The Strait of Hormuz is not the only route for India’s crude oil imports. Only about 40% of India’s crude oil imports pass through Hormuz, while about 60% are routed through other unaffected supply corridors,” an official said.India has over 250 million barrels (nearly 4,000 crore litres) of crude oil and refined petroleum products, which translates into 7-8 weeks of buffer coverage across the supply chain, government sources said.