Russia Supplied Half Of India’s Crude Purchases In July: GTRI
For July, the government has disclosed that India’s total imports from Russia reached $8.9 billion but has not provided the value of crude oil in the imports. In June, crude accounted for 82 per cent of India’s total imports from Russia. Applying the same ratio to July puts India’s Russian crude imports at approximately $7.3 billion
Chennai: Russia supplied an estimated 52 per cent of India’s crude-oil imports in July 2026, up from 48.6 per cent in June, according to GTRI. With the US Congress approves the Russia Sanctions Bill
India imported $14.8 billion of crude oil, including $7.2 billion from Russia, in June.
For July, the government has disclosed that India’s total imports from Russia reached $8.9 billion but has not provided the value of crude oil in the imports. In June, crude accounted for 82 per cent of India’s total imports from Russia. Applying the same ratio to July puts India’s Russian crude imports at approximately $7.3 billion.
In the combined value of crude oil and petroleum-product imports in June, crude represented 76.3 per cent. Applying that ratio to July suggests India imported about $14 billion of crude.
On this basis, Russia supplied an estimated $7.3 billion of India’s total crude imports of $14 billion—equivalent to approximately 52 per cent.
India could face additional US tariffs of up to 100 per cent if the proposed Russia sanctions legislation is approved by Congress and applied to countries that continue purchasing Russian energy.
“However, India has limited room to make an abrupt shift. Replacing a supplier that now accounts for more than half of imported crude would be difficult, costly and potentially disruptive. A rapid reduction in Russian purchases could increase India’s import bill, disrupt refinery operations, widen the trade deficit and add to domestic inflation. It could also leave India more exposed to instability in West Asia,” it said.
According to GTRI, American tariff threats should not determine India’s energy policy. Differences with Washington should be addressed through firm negotiations, not unilateral concessions that raise India’s energy costs and weaken its strategic autonomy.
