Russia Rescues India Again As Oil Imports Hit Nine Month High Amid Middle East Crisis

India has raised its oil purchases from Russia again. The main reason is supply trouble in the Middle East. The Strait of Hormuz has seen disruptions. This has slowed down oil flow. Indian refiners had to look for alternatives. Russia became the easiest option. This shift has pushed imports higher.

How Big Is The Import Jump

Data shows a sharp increase in numbers. By March twenty nine, imports reached 5.55 crore barrels. This is the highest level in nine months. In February, it was much lower. It stood near 2.9 crore barrels. The jump is significant and clear. It shows strong demand and urgency.

Did US Sanctions Play A Role

There was some easing in U.S. restrictions. This helped Indian buyers. They were allowed to purchase loaded shipments. Both sanctioned and non sanctioned cargo were included. This window gave more flexibility. As a result, buying increased quickly. It also reduced hesitation among refiners.

Why Had Buying Dropped Earlier

Earlier, there was a dip in purchases. U.S. sanctions on companies like Rosneft affected sentiment. Refiners became cautious at that time. Imports fell from earlier highs. In November, it was above 5.5 crore barrels. By February, it dropped sharply. The market showed uncertainty then.

How Hormuz Crisis Changed Game

The Hormuz Strait plays a key role. It connects the Gulf to the Arabian Sea. Around twenty percent of global oil passes through it. India depends heavily on this route. Nearly half of its imports use this path. Any disruption here creates pressure. This forced India to shift sources.

Which Countries Are Supplying Now

Russia is now leading again. Saudi Arabia remains second supplier. Angola has moved to third position. Angola’s supply jumped sharply. It saw a massive rise of over two hundred percent. At the same time, Iraq and UAE supplies dropped. This reshaped India’s import mix.

Is India Diversifying Oil Sources

India is now widening its options. It is buying from Angola, Oman and Ecuador. Countries like Gabon and Sudan are also included. This is a safety strategy. The aim is to avoid over dependence. Global uncertainty is still high. India wants stable supply in all situations.