Russian Oil Constitutes 38% of Indian Imports, Premium Increases by 425% in April 2026

In April 2026, Russia accounted for approximately 34% of Indias oil imports, reflecting a significant reliance on Russian crude supplies amidst changing global dynamics. Concurrently, Indias dependence on oil imports from the United States decreased, reaching its lowest levels in several months, both in terms of value and volume.

This shift in sourcing can be attributed to various factors, including shifts in geopolitical relations, fluctuations in global oil prices, and Indias ongoing efforts to diversify its energy sources. The growing share of Russian oil in Indias supply chain comes as countries are navigating an increasingly complex energy landscape, influenced by sanctions, market demands, and regional stability.

As India continues to enhance its energy security strategy, it is likely to explore alternative suppliers while balancing its energy needs with geopolitical considerations. The decline in U.S. oil imports may also prompt discussions in Washington about the implications for energy diplomacy and trade relations.