India bought $40.8 billion worth of crude oil from Russia in FY2026, accounting for nearly a third of its total crude imports, according to the Global Trade Research Initiative (GTRI). That trade now sits at the centre of a US sanctions push that could give President Donald Trump the power to impose additional tariffs of up to 100% on major buyers of Russian energy.
Russia supplied 30.3% of India's crude imports in FY2026, out of the country's total crude purchases of $134.7 billion, the think tank founder Ajay Srivastava said. By July 2026, the dependence had deepened further, with Russia supplying 51% of India's imported crude oil.
