India Rides Out Global Uncertainty with Record Russian Oil Imports

India has strengthened its energy security by rebuilding its crude oil inventories and importing record volumes of Russian oil. According to Anas Alhajji, an energy economist, India's dependence on Russian oil has increased significantly since Western sanctions reshaped the global oil trade following the Ukraine conflict.

Russian oil, discounted due to the sanctions, has enabled Indian refiners to maintain high operating rates while exporting refined products such as diesel, gasoline, and jet fuel to international markets. Alhajji noted that India's crude oil imports from Russia reached a record high in June, helping the country replenish its oil inventories after earlier drawdowns.

The inventory data reflects a strong recovery in 2026 after a mid-year slump. Weekly crude stocks fell to around 85 million barrels near Week 15 before rebounding steadily, crossing 107 million barrels by Week 25, the highest level recorded this year.