- Category
- Latest news
India’s Russian Oil Imports Fall to Lowest Level Since 2022 Amid Sanctions and US Trade Agreement
- Authors
![Photo of Cyril Barabaltchouk]( "Photo of Cyril Barabaltchouk")
-72b63a4e0c8c475ad81fe3eed3f63729.jpeg "Photo of Cyril Barabaltchouk")
India’s imports of Russian crude oil in January fell to their lowest level since late 2022, as New Delhi scales back purchases amid Western sanctions pressures and ongoing trade talks with the United States, Reuters reported on February 18.
According to industry tracking, India—the world’s third-largest oil importer—received about 1.1 million barrels per day (bpd) of Russian crude last month, down roughly 23.5% from December and about a third compared with a year earlier. Russian oil’s share of India’s overall crude imports slid to 21.2%, its smallest proportion since October 2022.
We bring you stories from the ground. Your support keeps our team in the field.
The reduction shows Western sanctions over Russia’s invasion of Ukraine and diplomatic pressure tied to a US-India trade agreement that encourages New Delhi to cut Russian oil purchases, traders and analysts told Reuters.
US President Donald Trump had previously announced a major trade agreement with Indian Prime Minister Narendra Modi, in which both sides agreed to reduce tariffs and that India stops buying Russian oil and buys more from the United States and, possibly, Venezuela.
China has since late 2025 overtaken India as Russia’s largest buyer of seaborne crude, transported by vessels linked to Russia’s shadow fleet. According to the Foreign Intelligence Service of Ukraine, tankers associated with Russia’s shadow fleet exported 14.32 million tons of crude oil in January, equivalent to more than 104 million barrels. This represents a decrease of 1.417 million tons compared to December 2025.
The intelligence data indicates that China was the largest recipient of Russian oil delivered by shadow fleet tankers during the month. A total of 51 voyages transported 4.99 million tons of crude to China—an increase of 0.398 million tons compared to December.
To make up for lower volumes from Russia, Indian refiners have been shifting to other sources. Middle Eastern grades accounted for about 55% of India’s oil imports in January, the highest share seen recently, while Latin American supplies reached a 12-month high of around 10%, according to Reuters.
Saudi Arabia in particular has reclaimed its position as India’s top supplier, supported by competitive pricing.
Sumit Ritola, lead research analyst, refining and modelling at Kpler expects Russian imports to fall further in the coming months, with provisional data suggesting February levels may average 1.0–1.2 million bpd and around 800,000 bpd in March. While Indian imports are not anticipated to cease entirely, they are forecast to gradually decline over the medium term.
Earlier, it was reported that roughly 143 million barrels of Russian oil were sitting aboard tankers at sea, effectively turning vessels into floating storage.
The figure represents about half of Russia’s monthly production, highlighting the growing difficulty in placing shipments despite aggressive price cuts.
-7f54d6f9a1e9b10de9b3e7ee663a18d9.png)
-c439b7bd9030ecf9d5a4287dc361ba31.jpg "Photo of Katherina Popilnichenko")
-111f0e5095e02c02446ffed57bfb0ab1.jpeg "Photo of Roman Kohanets")
