No Impact of US Curbs? Russian Oil Continues to Flow – Indian Oil Buys More

Despite escalating US sanctions and Western pressure, India is doubling down on discounted Russian crude oil. Indian Oil Corporation (IOC), the nation’s top refiner, has secured additional shipments, proving Moscow’s energy exports remain resilient.

US Sanctions vs. India’s Oil Strategy

The US and its allies have imposed strict price caps and trade restrictions to curb Russia’s oil revenues. Yet, India—the world’s third-largest oil importer—continues buying heavily, leveraging deep discounts to stabilize fuel prices and cut import costs.

Industry reports confirm Indian Oil’s recent deals for millions of barrels of Russian Urals crude. Analysts say India prioritizes economic benefits over geopolitical pressure, especially amid volatile global oil markets.

Why Russia Dominates India’s Oil Imports

Since the Ukraine war began, Russia’s share in India’s oil imports jumped from near-zero to 40%. Key drivers include:

✅ Steep Discounts: Russian crude sells $10-$15 cheaper than global benchmarks.
✅ Local Currency Deals: India & Russia bypass dollar sanctions via rupee-ruble & UAE dirham payments.
✅ Energy Security: New Delhi reduces reliance on Middle Eastern suppliers amid global instability.

US Warnings & India’s Defiance

Washington has warned against India’s growing Russian oil dependence, hinting at secondary sanctions. But India insists its purchases are purely economic.

“We’ll buy oil where it’s viable,” says Hardeep Singh Puri, India’s Petroleum Minister, reinforcing strategic autonomy in foreign policy.

Global Oil Market Ramifications

India’s imports help Russia sustain its economy despite Western embargoes. Meanwhile, Indian refiners profit by processing cheap Russian oil into fuel—some of which gets exported to Europe.

Experts note that while US sanctions initially disrupted trade, shipping & payment workarounds have kept Russian crude flowing to Asia, especially India and China.

Future Risks & Opportunities

• US Crackdown: Tighter enforcement on payment loopholes may complicate deals.
• OPEC+ Shifts: If Russia or Saudi Arabia cuts production, discounts could shrink.
• Diversification: India is increasing imports from Africa & the Americas to avoid over-reliance.

Final Takeaway

India’s continued Russian oil imports highlight the limits of Western sanctions. As long as discounts last, New Delhi will keep buying—proving economics outweigh geopolitics in global energy trade.

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