India Engages Russia to Expand Crude and LNG Imports Amid Price Surge

India is reviving its energy engagement with Russia, exploring a new liquefied natural gas (LNG) deal and increasing crude oil imports, according to reports. The renewed talks come amid surging global energy prices and rising geopolitical tensions, as New Delhi seeks to balance its energy security needs with international pressures.

Earlier this year, India had reduced its purchases of Russian crude during trade negotiations with the United States, a move interpreted as a concession to Washington over tariff concerns. However, within weeks, officials from both India and Russia agreed to resume discussions on direct LNG supplies, which have been suspended since the outbreak of the Ukraine war. The understanding emerged during a March 19 meeting in New Delhi between Russian Deputy Energy Minister Pavel Sorokin and Indian Petroleum Minister Hardeep Singh Puri.

Sources indicate that if India moves forward, negotiations for LNG could conclude soon, although any agreement may carry risks under Western sanctions. Parallel discussions are also underway to expand crude oil imports from Russia, potentially raising Russia’s share to nearly 40% of India’s total oil imports in the coming weeks.

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India became a major buyer of discounted Russian oil following the Ukraine conflict, importing billions of dollars’ worth of crude and helping sustain Moscow’s economy. With global energy prices now surging—fueled by tensions related to US-Israel actions and Iran—New Delhi is once again prioritizing energy security over previous trade concessions.

Reports suggest that the Indian government has asked domestic importers to prepare for renewed LNG purchases and has approached Washington seeking potential sanctions waivers. While official statements remain limited, India has emphasized its strategy of engaging multiple partners to ensure stable energy supplies.

Experts say the developments reflect India’s pragmatic approach to foreign policy, balancing strategic partnerships with the United States and Russia while safeguarding national interests and energy security in a volatile global environment.

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