India's Russian oil imports: From war-era discounts to Trump-era shifts

US lawmakers' push to name India in a Russia sanctions bill puts its Russian oil purchases back in focus. Here's how the trade has changed since Moscow's invasion of Ukraine

The US House of Representatives has passed a sanctions and tariff bill that would allow President Donald Trump to impose tariffs of up to 100 per cent on countries, including India, that continue to buy Russian oil and gas. The legislation, which had earlier cleared the Senate by an 86-11 vote, passed the House on Wednesday.

The bill targets Russia’s energy sector and its so-called shadow fleet of tankers used to transport oil, while also giving the US President additional tariff powers over major buyers of Russian energy. India has emerged as one of Russia’s largest crude customers since the Ukraine war began.

The legislation brings renewed US pressure on a trade that has already gone through several sharp shifts — from a surge driven by discounted Russian barrels after 2022 to a decline under US tariff pressure in late 2025, followed by another increase when the West Asia conflict disrupted traditional supply routes in 2026.

From marginal purchases to a major source

Russia launched a full-scale invasion of Ukraine in February 2022. As Western countries reduced purchases of Russian oil and sanctions narrowed Moscow’s pool of buyers, Russian crude became available to Indian refiners at steep discounts. This gave refiners an incentive to increase purchases at a time when India remained heavily dependent on imported crude.

According to a recent report by Bloomsbury Intelligence and Security Institute (BISI), India's share of Russian oil in its crude imports rose from about 0.2 per cent before the war to around 35-40 per cent in 2025.