Russia remained India’s largest crude oil supplier in September, delivering about 1.74 million barrels per day through September 27 even as Indian refiners increased purchases from the Middle East and faced new U.S. tariff risks tied to Russian energy imports.
MONTREAL (Oil Monster): Russia remained India’s largest crude oil supplier in September despite tighter availability of Russian barrels, growing competition from China and increased U.S. pressure on major purchasers of Russian energy.
Russian crude shipments to India averaged approximately 1.742 million barrels per day between September 1 and September 27, according to preliminary data from maritime intelligence firm Kpler.
Although Russia retained the top position, September volumes were below the roughly 2.1 million bpd India imported from Russia in August.
India imported an average of approximately 5.251 million barrels per day of crude through September 27.
That represented an increase of about 13% from the 4.654 million bpd average recorded in August, according to Kpler data.
Russia accounted for approximately one-third of India’s total crude purchases during the September period.
Russia remained well ahead of India’s other major crude suppliers.
The supplier mix changed considerably from August, when Russia was followed by Saudi Arabia, Iraq, the UAE and the United States.
Iraqi and Saudi supplies increased sharply in September as Indian refiners sought a broader range of barrels amid disruptions affecting global crude flows.
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India’s September Russian crude imports are the lowest since April, when arrivals averaged approximately 1.72 million bpd.
Reuters reported that Indian refiners expect Russian supplies to tighten further in October and November because of lower export availability and stronger demand from Chinese refiners.
Russian shipments from the Black Sea port of Novorossiysk have been particularly constrained, with exports falling sharply following repeated disruptions to loading activity.
At the same time, Chinese refiners have been willing to secure Russian cargoes earlier and at firmer prices, increasing competition for barrels traditionally purchased by India.
Indian refiners have responded by increasing purchases of alternative crude grades from the Middle East and other producing regions.
Replacement barrels include UAE Murban crude, Iraqi Basrah grades and crude from Angola.
Kpler lead refining analyst Nikhil Dubey said physical crude balances remain tight, particularly for medium crude grades that are important to Indian refiners because of the country’s middle-distillate-heavy product slate.
Russian Urals crude remains attractive to many Indian refiners because of its refinery compatibility, availability and relative economics.
Replacing large volumes quickly would be difficult while supplies from other producing regions remain constrained.
India’s continued purchases come as a new U.S. sanctions law increases potential trade risks for major buyers of Russian energy.
U.S. President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 into law on September 18.
The legislation requires the U.S. administration to impose tariffs of up to 100% on goods from the five largest importers of Russian crude oil or natural gas, along with certain countries covered by other provisions of the law.
The measures are not the same as an immediate blanket 100% tariff on every country purchasing Russian energy. Their application depends on the provisions of the legislation and implementation by the U.S. administration.
India has raised concerns with Washington over the measures and has continued to emphasize energy security and affordability in explaining its crude-purchasing policy.
Indian officials have repeatedly said crude purchases are determined by national energy requirements, commercial considerations and supply availability.
Industry analysts expect India to maintain a diversified crude portfolio rather than abruptly replace Russian supply.
Additional Middle Eastern barrels could become more attractive if regional supply availability improves, particularly because of shorter shipping distances and lower freight costs.
For now, however, tight supplies of comparable medium-grade crude make a substantial near-term reduction in Russian purchases more difficult.
Russian crude availability for Indian refiners is expected to remain under pressure in October and November.
Reuters reported that stronger Chinese buying, reduced Russian export availability and security risks affecting shipping routes to India are forcing refiners to consider more expensive alternatives.
The shift means Russia may remain India’s largest individual crude supplier even if monthly volumes continue to decline.
