India has resumed its purchases of Russian oil after a brief suspension, according to reports from industry sources. Over the past two days, traders indicated that IndianOil Corp. and Bharat Petroleum Corp. have secured multiple shipments of Urals crude oil scheduled for September and October delivery. The move marks a temporary pause in India’s imports from Russia, which has been a significant source of crude for the country amid global supply adjustments.
The decision to restart imports comes amid ongoing discussions about energy sourcing and price negotiations between India and Russia. Analysts suggest that India’s refineries are taking advantage of affordable Russian crude, especially in light of Western sanctions and price caps that have limited Russia’s oil exports to some markets. Despite the brief interruption, the resumption indicates that Indian companies remain firmly engaged with Russian suppliers.
Russian officials and traders have affirmed that Russia intends to continue selling oil to India. This ongoing trade relationship underscores India’s strategic efforts to diversify its energy sources and secure stable supply chains amid a complex global geopolitical landscape. The return to regular purchases is likely to impact global crude oil markets, particularly in the context of geopolitical tensions and energy security concerns.