India Resists Pressure on Russian Oil Imports, Asserts Sovereignty

Indian Government Affirms Independence in Russian Oil Imports

The Indian government has reiterated its stance on importing Russian crude oil, stating that its purchases are not dependent on external approval. According to a statement from the Press Information Bureau (PIB), India has continued to import Russian oil as recently as February 2026, with Russia remaining the country's largest crude oil supplier.

This affirmation comes after the US Department of the Treasury issued a temporary waiver on Thursday, allowing shipments of Russian oil stranded at sea to be sold to Indian buyers. The waiver was announced amidst the ongoing US-Israeli military campaign against Iran and Iran's retaliatory strikes across the Gulf, which have disrupted global energy markets and pushed crude prices sharply higher.

Global Crude Prices

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The conflict in West Asia has led to a significant increase in crude prices, with prices rising 8.5% on Friday and nearly 30% higher for the week. This volatility has raised concerns about the security of energy shipping routes across the Gulf, including the Strait of Hormuz, a key passage for global oil supplies.

Energy Reserves

Despite the uncertainty in global markets, India's energy reserves remain strong. According to the government, the country currently holds more than 250 million barrels of crude oil and petroleum products, which can help manage short-term supply disruptions.

Sanctions and Trade Agreements

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The Indian government has neither confirmed nor denied claims that it had committed to stopping Russian oil purchases as part of an interim trade agreement with the US. However, the government has reiterated that its oil procurement decisions are based on national interest. The Trump administration had rolled back a 25% tariff on Indian exports in February as part of the agreement, citing India's commitment to stop purchasing Russian oil.