India has already purchased nearly 16 million barrels of Russian crude so far in March 2026, translating to roughly 1.6 million barrels per day, indicating a sharp uptick.
After dominating India’s crude imports since 2023, Russian supplies slowed amid US sanctions, but a 30-day ‘waiver’ amid West Asia tensions could now push flows back towards 2 mbpd.
The crude flows in the Strait of Hormuz largely originate from Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, and Qatar and move to China, India, Japan and South Korea.
While the Russia-Ukraine war saw the BJP projecting PM Modi as a ‘vishwaguru’ who could end international conflicts, the party has made a nuanced shift in its electoral strategy vis-à-vis the West Asia war.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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