New Delhi — India’s dependence on Russian crude oil continued to grow in April 2026, with Russia accounting for 37.7% of the total value of India’s oil imports, the highest level recorded in the past eleven months. The latest trade data highlights Russia’s continuing role as India’s largest crude oil supplier despite ongoing geopolitical tensions and volatility in global energy markets.
The increase comes as Indian refiners sought to secure stable supplies amid rising international oil prices following the West Asia crisis, which disrupted energy markets and pushed crude prices higher worldwide.
Russia Strengthens Position as India’s Top Oil Supplier
According to import data, Russia’s share of India’s oil import bill climbed to 37.7% in April 2026, marking its strongest position since May 2025.
Since Western sanctions were imposed on Moscow following the Russia-Ukraine conflict, India has emerged as one of the largest buyers of Russian crude. Indian refiners have continued purchasing Russian oil because of its competitive pricing and reliable supply volumes.
The latest figures indicate that Russia remains a critical component of India’s energy security strategy as the country seeks to meet growing domestic fuel demand.
India Paid Higher Prices for Russian Oil
While Russian crude has often been sold at discounted rates compared with global benchmarks, April’s data showed a significant shift.
India paid an average of $864.9 per ton for crude imported from Russia during April 2026. By comparison, the average price India paid for oil imported from all countries stood at $787.1 per ton.
This means India paid a premium of $77.8 per ton for Russian crude during the month.
The premium represented a dramatic increase of approximately 425% compared with March 2026, reflecting changing market conditions and tighter global supply dynamics.
West Asia Crisis Drives Oil Market Volatility
Energy analysts attribute the rising premium largely to escalating tensions and disruptions in West Asia, a region that plays a crucial role in global oil production and transportation.
The crisis contributed to:
- Higher global crude oil prices
- Increased shipping and insurance costs
- Supply chain disruptions
- Greater competition for available cargoes
- Heightened market uncertainty
As a result, the price advantage that Indian refiners had previously enjoyed on Russian crude narrowed significantly during April.
Strategic Importance for India
India is the world’s third-largest oil consumer and imports more than 80% of its crude oil requirements. Maintaining access to diverse energy sources remains a key priority for policymakers and refiners.
Russian crude has become increasingly important because it helps:
- Diversify supply sources
- Enhance energy security
- Support refinery operations
- Reduce dependence on traditional suppliers
- Provide flexibility during global market disruptions
Despite paying a higher price in April, Indian refiners continued to purchase substantial volumes of Russian oil due to long-term supply relationships and refining economics.
Global Implications
India’s continued purchases of Russian crude are being closely watched by international energy markets and policymakers.
The trend demonstrates how global oil trade flows have been reshaped since the onset of Western sanctions against Russia. While many European countries reduced purchases of Russian energy, buyers in Asia, particularly India and China, have emerged as major destinations for Russian exports.
Energy experts note that shifts in oil trade patterns are likely to remain a defining feature of global energy markets in the coming years.
Key Figures
- Russia’s Share of India’s Oil Imports (April 2026): 37.7%
- Highest Level Since: May 2025
- Price Paid for Russian Oil: $864.9 per ton
- Average Price of All Oil Imports: $787.1 per ton
- Premium Paid for Russian Crude: $77.8 per ton
- Increase in Premium From March: 425%
- Main Driver: West Asia crisis and rising global oil prices
Bottom Line
India’s oil imports from Russia reached an 11-month high in April 2026, with Moscow accounting for nearly 38% of the country’s total oil import value. Although Indian refiners paid a significantly higher premium for Russian crude compared with previous months, the country’s strategic need for stable energy supplies and the impact of the West Asia crisis helped sustain strong demand. The data underscores Russia’s continued importance in India’s energy landscape amid an increasingly uncertain global oil market.
