Why India needs Russian oil

India's oil security is becoming increasingly fragile. Over 80 per cent of its crude imports come from just two suppliers — West Asia and Russia — both now facing geopolitical stress. In this environment, resuming full purchases of Russian oil may not be a choice but a necessity. Here are eight reasons why.

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India's oil security is becoming increasingly fragile. Over 80 per cent of its crude imports come from just two suppliers — West Asia and Russia — both now facing geopolitical stress. In this environment, resuming full purchases of Russian oil may not be a choice but a necessity. Here are eight reasons why.

First, West Asia — India’s largest energy supply pillar — has become increasingly fragile. The war is spreading across the Gulf, while shipping through the Strait of Hormuz faces disruption, and attacks on oil facilities operated by Saudi Aramco and others have raised fears of falling production and supply shortages. India remains heavily dependent on the region: In 2025, about 48.7 per cent of its crude oil imports, 68.4 percent of its LNG imports, and more than 91 per cent of its LPG imports came from West Asia. With crude oil and refined fuel stocks covering barely 30 days of consumption, India has little buffer against such shocks.

Second, the economic consequences of supply disruptions for India that imports 90 per cent of its crude oil needs could be severe. Oil prices have already risen 53 per cent, from $72 per barrel a day before the war began on February 28 to around $110 per barrel now. Another week of disruption could push prices above $100 per barrel, worsening India’s current account deficit, weakening the rupee beyond 94 per dollar, and increasing inflation across the economy.