India's Resilient Russian Oil Strategy: Navigating Sanctions with Commercial Acumen

India remains committed to purchasing Russian oil, prioritizing energy security and commercial viability. Despite expired US waivers, India continues sourcing from Russia to manage energy costs, driven by discounted prices and adequate supply. Experts predict sustained reliance on Russian crude amid market volatility, enforcing compliance with global sanctions.

India is steadfast in its resolve to continue purchasing Russian oil, with a focus on balancing energy security and commercial viability, a senior official from India's petroleum ministry stated on Monday.

Sujata Sharma, joint secretary in the ministry, highlighted India's reliance on discounted Russian crude as a crucial component of its oil import strategy, with commercial factors leading procurement decisions.

This approach comes as temporary US sanctions waivers expired without renewal, prompting India—the world's third-largest crude importer—to ensure sourcing remains compliant with international sanctions, avoiding sanctioned entities and using appropriate financial channels.