India to proceed shopping for Russian crude oil no matter US sanctions waivers, says Petroleum Ministry Official | World Information
2 min learnUp to date: Might 18, 2026 07:58 PM IST
India will proceed buying Russian crude oil no matter whether or not the US extends sanctions waivers, with choices pushed by business viability and power safety wants, a senior Petroleum Ministry official stated on Monday, in response to PTI.
Sujata Sharma, Joint Secretary within the Petroleum Ministry, advised reporters at a media briefing, “Concerning the American waiver on Russia, I want to emphasise that we now have been buying from Russia earlier… earlier than waiver additionally, throughout waiver additionally, and now additionally,” PTI reported.
Sharma stated India’s crude sourcing technique was guided primarily by pricing and provide concerns. “It’s mainly the business sense which ought to be there for us to buy,” she stated, including that India had secured satisfactory provides by long-term contracts and that there was no scarcity of crude availability.
The remarks got here after a short lived US sanctions waiver permitting the sale and supply of Russian seaborne crude expired on Might 16. The waiver, first issued by the US Treasury Division in March and prolonged in April, had been launched to stabilise world power markets following disruptions attributable to the US-Israel battle with Iran.
“No matter waiver or no waiver, it (availability) won’t have an effect on,” Sharma stated.
Russian crude has turn out to be a significant a part of India’s import basket since 2022, when Western sanctions following Moscow’s invasion of Ukraine disrupted conventional export flows and pushed Russia to supply discounted oil to patrons comparable to India.
Though the US and European nations imposed sweeping sanctions on Russia, Russian oil itself was by no means straight sanctioned. Nonetheless, Washington has in current months focused entities comparable to Rosneft and Lukoil, together with vessels and monetary channels linked to Russian exports.
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Indian refiners continued purchases by making certain compliance by non-sanctioned sellers, vessels, insurance coverage and cost routes, the report stated.
In line with Kpler information cited by PTI, Russian oil imports into India are anticipated to common practically 1.9 million barrels per day in Might, near file ranges. A ccording to analysts cited by PTI, India is unlikely to considerably cut back Russian crude purchases within the close to future, although tighter documentation and compliance checks are anticipated.
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