India has secured approximately 60 million barrels of Russian crude oil for delivery in April, as the country seeks to safeguard fuel supplies amid ongoing disruptions in Middle East oil flows. The purchases were made by Indian refiners under favourable but shifting market conditions, according to people familiar with the matter.

The cargoes were booked at a premium of about $5 to $15 per barrel above the global benchmark Brent price, reflecting tighter global supply and stronger demand from India, the world’s third‑largest oil importer. The volume for April is more than double what was acquired in February, highlighting a significant increase in procurement amid concerns over potential disruptions due to geopolitical tensions.

Industry sources say the surge in Russian crude buying follows temporary exemptions from U.S. sanctions allowing India to take delivery of Russian oil already loaded onto vessels before a specified deadline. These waivers were introduced in part to help offset supply shortfalls caused by reduced tanker movements through the Strait of Hormuz, a key shipping route affected by conflict in the region.

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Analysts note that India’s reliance on imported oil — which accounts for a substantial majority of its domestic consumption — makes such agreements crucial during periods of market volatility. Refiners including private and state‑run firms have adjusted buying strategies, returning to the Russian market after a brief reduction in purchases under earlier pressure to diversify away from Russian crude.

The larger purchases come amid broader efforts by India to secure diverse crude supplies. Reports indicate that Indian firms are also seeking oil from other sources, including West Africa and Venezuela, to reduce dependence on any single region as uncertainties in Middle East logistics continue to pose challenges.

Russia is currently benefiting from renewed demand and elevated global oil prices, marking one of the most lucrative periods for its crude exports in recent years. The Kremlin’s revenue from oil sales has climbed significantly as buyers like India absorb large cargoes even at premiums, underscoring shifting trade flows driven by geopolitical and market pressures.

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