India’s Petroleum Ministry has formally defended the country’s surging imports of Russian crude oil, characterizing the volume spike as a calculated strategic response to escalating tensions in West Asia.
The clarification comes as New Delhi seeks to reassure markets and domestic stakeholders that its energy procurement strategy is driven by supply security rather than mere price arbitrage.
Imports surged 34% month-on-month, pushing total crude intake to a record 4.
The ministry’s statement addresses recent scrutiny over India’s growing reliance on Russian barrels, which reached an all-time high in June.
Imports surged 34% month-on-month, pushing total crude intake to a record 4.93 million barrels per day.
This sharp increase occurred even as Russia’s overall export revenues faced pressure, highlighting the depth of the discount Indian refiners have been able to secure.
Handelsavisen analysis indicates that this volume growth underscores the resilience of Indian refining capacity.