New Delhi, May 19: India will continue purchasing Russian crude oil based on commercial viability and energy security considerations, irrespective of US sanctions waivers, a senior Petroleum Ministry official said on Monday.
Joint Secretary in the Ministry of Petroleum and Natural Gas, Sujata Sharma, said India’s crude procurement strategy remains guided by pricing and supply availability rather than external policy changes.
“India has been purchasing Russian oil before the waiver, during the waiver and now as well,” Sharma told reporters, emphasising that the country’s sourcing decisions are rooted in commercial logic.
She said India has secured adequate crude supplies through long-term arrangements and currently faces no shortage in availability.
Her remarks come after the temporary US sanctions waiver allowing the sale and delivery of Russian seaborne crude expired on May 16. The relief measure, introduced by the US Treasury Department in March and extended in April, was intended to stabilise global oil markets and moderate crude prices amid geopolitical tensions linked to the Iran conflict.
Sharma said the expiry of the waiver would not alter India’s procurement strategy.
India, the world’s third-largest oil importer, has significantly increased purchases of discounted Russian crude over recent years, helping domestic refiners manage elevated energy costs and maintain supply stability.
Although US sanctions targeted Russian entities, including major suppliers such as Rosneft and Lukoil, along with shipping and financial channels, Indian refiners resumed higher purchases following the temporary relief measures.
According to market intelligence firm Kpler, Russian crude imports into India are expected to remain near record levels at around 1.9 million barrels per day in May, including cargoes covered under the now-expired waiver.
The sustained flow of discounted Russian oil comes at a time when benchmark Brent crude prices have climbed above $100 per barrel, intensifying pressure on global energy markets.
Analysts expect India to maintain Russian crude imports in the near term, with tighter compliance procedures and documentation likely rather than any major shift in sourcing patterns.
