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Agartala, Tripura
New Delhi/IBNS: As geopolitical tensions shake global energy markets, India has reaffirmed a clear message: its energy policy will be guided by national interest, not external pressure.
The government stated on Saturday that India continues to purchase crude oil from whichever source offers the most competitive prices, even as the ongoing conflict involving Iran, Israel and the United States threatens global shipping routes, particularly the vital Strait of Hormuz.
Despite disruptions to regional energy flows, officials said India’s supply situation remains stable due to a strategy built on diversification and large reserves.
New Delhi also clarified that it continues to import Russian crude despite a temporary waiver recently issued by the United States.
The waiver, announced by the administration of Donald Trump, allows oil from Russia already loaded onto vessels to be sold to India for a limited period amid the Middle East conflict.
However, the government stressed that India’s energy decisions have never depended on external approval.
“India has never depended on permission from any country to buy Russian oil,” the Centre said in an official statement.
Officials pointed out that Russian oil remains India’s largest crude supply source even in early 2026.
Since the start of the Russia‑Ukraine War in 2022, India has continued to purchase Russian crude despite objections from several Western governments.
Imports increased significantly after 2022, largely due to discounted prices and strong demand from Indian refineries.
The government emphasised that India’s energy security strategy relies on diversifying supply sources rather than depending on any single region.
Over the past decade, India has expanded its crude import network from 27 countries to 40, creating multiple alternative supply routes in case of geopolitical disruptions.
Officials said the country currently holds more than 250 million barrels of crude oil and petroleum products across reserves and supply chains.
These stocks provide a buffer covering roughly seven to eight weeks of national consumption.
India’s refining capacity now stands at around 258 million metric tonnes per year, which exceeds domestic demand and enables the country to export refined petroleum products to global markets.
The war involving Iran and its regional rivals has disrupted shipping routes across the Persian Gulf and triggered sharp increases in global oil prices.
Military actions and retaliatory strikes in the region have forced some tankers to avoid critical sea lanes, particularly the Strait of Hormuz, a passage through which roughly 20 percent of the world’s oil supply moves.
The volatility has pushed crude prices sharply higher.
Global benchmarks rose more than 8 percent in a single day and have gained nearly 30 percent over the past week.
The surge followed comments from Trump suggesting that only the “unconditional surrender” of Iran would end the conflict.
Despite political debate, data suggests India never completely halted Russian oil purchases.
After Russia’s invasion of Ukraine in 2022, India and China emerged as the largest buyers of Russian crude.
At one stage, India accounted for around 40 percent of Russia’s seaborne oil exports.
Although imports temporarily declined after new US sanctions targeted certain Russian companies, shipments soon recovered.
Reports indicate that Russian oil accounted for around 30 percent of India’s imports in February 2026.
Indian refiners have also reportedly purchased more than 10 million barrels of Russian crude in recent weeks, while additional cargoes remain aboard tankers in the Arabian Sea and the Bay of Bengal.
The temporary waiver issued by Washington allows India to purchase Russian oil already at sea, helping stabilise supply at a time when Middle Eastern routes face disruption.
Officials in the US administration said the move could ease pressure on global refineries and reduce competition for limited supplies.
Energy Secretary Chris Wright explained that encouraging India to buy stored Russian crude would bring those barrels quickly into refining systems, helping balance global markets.
By absorbing these supplies, Indian refineries can free up other oil sources for buyers elsewhere, thereby stabilising prices and easing shortages.
India’s position in global energy markets goes beyond simply importing crude.
The country has developed into the world’s fourth-largest refining hub and the fifth-largest exporter of petroleum products.
Since 2022, Indian refineries have purchased discounted Russian crude, processed it domestically and exported refined fuels to markets around the world, including Western economies that reduced direct trade with Russia.
This refining capability has strengthened India’s strategic role in global energy supply chains.
Crucially, Russian crude shipments can also reach India through alternative routes such as the Suez Canal, the Mediterranean Sea and the Red Sea, reducing reliance on the Strait of Hormuz.
India’s approach to energy procurement over the past three years has demonstrated the country’s focus on pragmatic economic strategy rather than geopolitical alignment.
By securing discounted crude, expanding supplier networks and strengthening refining capacity, India has positioned itself as a key stabilising force in global energy markets.
