India maintains strong ties with Russia amid ongoing oil purchases

India, the world’s third-largest oil importer, is continuing its relationship with Russia despite ongoing international sanctions due to the war in Ukraine. A senior government official stated that India anticipates no disruption in its oil purchases from Russia in the coming two months, even in light of the latest US and UK sanctions targeting the Russian energy sector. These new restrictions reportedly aim to impact major Russian petroleum producers, including Gazprom Neft and Surgutneftegaz. However, the official conveyed confidence that Russia would still manage to maintain oil supply to India, suggesting that the nation has strategies to navigate through these sanctions. Furthermore, the international restrictions are expected to disrupt oil supplies primarily for China and India, yet both nations are currently assessing their options in light of anticipated interruptions. Indian and Chinese refineries are also exploring alternative sources for crude oil, which includes potential supplies from West Asia, the Americas, and Africa. Despite the sanctions, which have caused fluctuations in global crude prices, there remains a strong determination from India to keep its ties with Russia intact for energy security and geopolitical reasons. The sanctions introduced recently have ignited concerns that global oil markets could face destabilization, especially for countries reliant on imported oil. Reports indicate that some estimates suggest that nearly 30% of Russia’s tankers—part of the shadow fleet—could be directly impacted by the new sanctions, potentially losing significant supply volumes. The global crude benchmark has witnessed price increases, raising alarm regarding economic effects on major importers like India and China, who depend heavily on external oil supplies. Lastly, India has made it clear that its historical alliance with Russia is not easily swayed by geopolitical shifts. With significant portions of Indian arms imports coming from Russia, and in the context of competing strategic partnerships with China, New Delhi finds it vital to maintain strong ties with Moscow. As the situation evolves, India is in a unique position, enabling it to navigate its energy needs while managing international pressures effectively.