In June, India's crude imports reached a record of 5 million b/d, with Russian supplies surging to an unprecedented 2.6 million b/d, marking a historic record for Russian-Indian trade. Russia's comeback was driven by necessity as the Hormuz disruption sharply reduced Gulf supplies.
India's strategic reserves are limited, making Russian oil a key component of its energy security strategy. Following the closure of the Strait of Hormuz, New Delhi has been actively seeking alternative sources, but Russian oil has become a necessity rather than a preference.
Russian supplies, which had fallen to around 1.1 million b/d in February, have more than doubled to 2.6 million b/d in June, accounting for 54% of India's total crude imports.
