India To Continue Buying Russian Oil Despite End Of US Sanctions Waiver

India will keep buying Russian crude oil even if US sanctions waivers end, a senior official confirmed on 18 May 2026, stressing that energy security and the wider economy stay ahead of diplomatic pressure as global oil prices climb and conflict in West Asia clouds supply routes.

Russian barrels have become central to India’s crude basket in recent years, as refiners gain access to discounted cargoes compared with many other global grades, allowing companies to manage costs while maintaining supply diversity across several producing regions and transport corridors.

India Russian crude oil imports and US sanctions waivers

Explaining the policy at a media briefing, Joint Secretary in the Ministry of Petroleum and Natural Gas, Sujata Sharma, said India’s crude sourcing strategy has stayed “consistent” through shifting geopolitical conditions, with decisions anchored in affordability, reliability of deliveries and alignment with national economic priorities.

Sharma underlined that commercial logic remains the key filter for all crude purchases, regardless of political debate around sanctions frameworks or diplomatic messages from partner countries. "It is basically the commercial sense which should be there for us to purchase," Sharma said, highlighting the role of long-term contracts and flexible supply options.

Sharma also addressed worries that foreign restrictions might unsettle India’s buying pattern from Moscow. "Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier... I mean before the waiver also, during the waiver also, and now also," Sharma stated, indicating steady engagement with Russian suppliers.

The comments follow heightened global attention after the Trump administration let a key US waiver, linked to Russian seaborne oil exports, expire over the weekend, sparking concern in some capitals about how major importers, including India, might recalibrate flows in response to the revised sanctions landscape.

Market data on 18 May 2026 reflected tight conditions, with international benchmark Brent crude up 0.93 per cent at USD 110.28 per barrel, while US benchmark WTI crude gained 0.85 per cent to trade at USD 106.32 per barrel amid persistent worries over supply.

Energy traders have been grappling with sharp price swings after repeated kinetic strikes connected to the broader West Asian crisis, which have intensified fears of disruption to transport through strategic maritime chokepoints such as the Strait of Hormuz and raised questions over the resilience of global shipping lanes.

Responding to domestic concerns, Sharma said India’s arrangements would withstand such external shocks. "There is no shortage of crude. Enough crude has been tied up repeatedly... and this, whatever waiver or no waiver, it will not affect," Sharma added, suggesting existing deals and diversified routes offer a buffer.

The ministry’s stance signals that India Russian crude oil imports are likely to continue as long as Russian cargoes remain available, competitively priced and logistically feasible, with policymakers framing the approach as a long-term effort to secure supplies while navigating sanctions debates and unstable global energy markets.