India Keeps Buying Russian Crude as Iran War Disrupts Supply

India is balancing its crude needs amid shifting geopolitical currents. A Russian envoy has said Moscow remains open to supplying crude to India, even as official imports from Russia have shown a sharp decline in recent months. The swing in procurement comes as India navigates a tighter global oil market and seeks reliable sources to keep domestic energy supplies steady.

The situation is complicated by the ongoing Iran war, which has disrupted oil flows and tightened global supply routes. Despite the volatility, sources indicate that India continues to source Russian crude to meet demand, a move that reflects the country’s drive to diversify suppliers while maintaining energy security amid price pressures.

In a development that could ease some near-term buying friction, India has reportedly been granted a 30-day waiver by the United States to purchase Russian oil. The waiver signals a temporary accommodation in the broader sanctions landscape, allowing India to bridge supply gaps while markets adjust to the evolving geopolitical dynamic.

Industry observers say the waiver offers only a short-term hedge against supply disruptions and price volatility. As the Iran conflict persists and Western sanctions remain in flux, India’s energy strategy is likely to emphasize a mix of long-term contracts, refinery flexibility, and ongoing assessment of alternative routes to keep oil flowing to consumers and industry alike.

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