- By Aditya Jha
- Sun, 08 Mar 2026 10:24 AM (IST)
- Source:JND
Iran-Israel-US War: Amid the ongoing war between Iran and the joint forces of the US and Israel, the United States announced a 30-day waiver for India to stop buying Russian crude. US Treasury Secretary Scott Bessentt, in his statement, said that the relaxation was given due to the hostile situation in the Middle East. However, India on Saturday clarified that it does not need anyone's permission to buy crude from Russia. As per the reports, while New Delhi reduced oil purchases from Moscow briefly amid the pressure from the US, it actually never stopped buying oil from Russia.
Did India Stop Buying Oil From Russia?
India emerged as the top buyer of Russian crude after the European nations imposed sanctions on Moscow following its attack on Ukraine. There were signs that India could stop buying crude from Russia due to threats from US President Donald Trump. However, the reports suggest that while India, for a brief period, reduced the quantity, it never stopped buying oil from Russia.
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India's imports of Russian crude reportedly fell to roughly 1.1 million barrels per day (bpd) in January, down to 21 per cent, the lowest since November 2022, reported Reuters. However, Russian oil imports climbed back to around 30 per cent of India's total imports in February 2026.
Current Scenario Explained
The imports of Russian crude are likely to surge significantly in the upcoming months due to the military conflicts in the Middle East region. Around 40-50 per cent of India's crude oil imports come from the Middle East, especially after New Delhi reduced oil imports from Russia. However, with reduced financial activities through the Strait of Hormuz, imports of Russian crude could once again approach the peak level of more than 2 million barrels per day recorded in mid-2024.
While Trump continues to claim that India has stopped Russian oil, New Delhi has continued the imports. However, the quantity has been smartly reduced to maintain a balance and to sign the trade deal with the United States.