Russia Becomes India’s Top Oil Supplier Amid West Asia Crisis, But Discounts Disappear

New Delhi: The ongoing instability in West Asia has significantly disrupted traditional oil supply routes for India, forcing a major realignment in its crude import strategy. As Gulf shipments face pressure, Russia has emerged as India’s largest crude oil supplier in March 2026.

According to an analysis of the latest data released by the Ministry of Commerce and Industry, Russia accounted for nearly 33.3% of India’s total crude oil imports during March 2026. This marks about one-third of the country’s overall oil intake for the month, reflecting a sharp shift in sourcing patterns.

The data further indicates that the share of oil imports from Gulf nations and the United States has declined during the same period, as logistical and geopolitical disruptions continue to impact supply chains.

However, a notable change in pricing trends has also emerged. Earlier, Indian refiners were benefiting from discounted Russian crude due to global sanctions and market adjustments. In contrast, recent market conditions have reduced those discounts, and in some cases, Russian oil is now being imported at a higher price than before.

Energy experts suggest that tightening global supply routes, along with shifting demand patterns, have contributed to this reversal in pricing advantages. Despite this, Russia remains a crucial energy partner for India amid uncertain global oil markets.