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9 July 2026

Trends in India's Russian oil imports

This topic provides critical data on India's energy security strategy, import diversification, and the economic impact of global price volatility, which are core themes in GS2 international relations and GS3 economic planning.

1 min read Day 1 of 10 2 questions 2 prelims

Notes

  • Russia's share in India's oil imports exceeded 40% in May 2026, reaching the highest level in nearly two years.
  • India's total oil imports in May 2026 were 21.82 million tonnes, a 12% increase from April but 2.6% lower than May 2025.
  • The cost of imported oil rose to $106 per barrel in May 2026 compared to $64 per barrel in May 2025.
  • India paid a premium of approximately $46 per tonne for Russian oil in May 2026, with the price at $916 per tonne versus the $870 average for all imports.
  • India has diversified supply sources, including resuming imports from Iran and Venezuela.
  • State-run Oil Marketing Companies (OMCs) incurred losses of ₹74,781 crore by June 30, 2026, to absorb global price shocks and protect domestic consumers.
  • India's energy resilience is attributed to strategic relationships, supplier diversification, long-term energy planning (ethanol blending, renewables, strategic reserves), and a whole-of-government coordination approach.
  • India's fuel and cooking gas inflation remained lower than many advanced and emerging economies during the West Asia crisis.

Part of a longer story

This is day 1 of 10 in India's strategy for crude oil imports amid West Asia crisis, which has been running since 9 July 2026. Reading it whole is usually worth more than reading today alone — the exam asks how something developed.

Questions

  1. Analyze the factors that have contributed to India's resilience in managing energy security amidst global geopolitical volatility and rising oil prices. 150 words
    Attempt this — 150 words in 8 min
    0 / 150 words 8:00
  2. Discuss the strategic shift in India's crude oil import policy, focusing on the balance between supplier diversification and the economic implications of import premiums. 250 words
    Attempt this — 250 words in 11 min
    0 / 250 words 11:00

Prelims

  1. What was the approximate share of Russian oil in India's total oil imports by volume in May 2026?

  2. Which of the following factors was identified as a key pillar of India's energy resilience during the recent West Asia crisis?

Syllabus

Topics

Sources

250words.in · https://250words.in/daily/2026-07-09/trends-in-india-s-russian-oil-imports