6 months ago
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India is implementing a larger strategy to trim its dependence connected lipid imports from Russia, with the higher tariffs imposed by the U.S. coming astatine a clip erstwhile India was already cutting its Russian lipid imports, according to an investigation of authoritative data. This has besides been confirmed by authorities officials.
An investigation by The Hindu of authorities commercialized information shows India’s lipid imports from Russia successful September 2025 — the archetypal afloat period during which the U.S.’ 50% tariffs connected Indian imports were applicable — were 29% little successful presumption of worth and 17% little successful presumption of measurement than successful September 2024.
However, the information shows that this is portion of a longer strategy alternatively than a absorption to the tariffs — 25% of which had been imposed arsenic a ‘penalty’ for importing Russian oil.
Longer strategy
The Russian oil-related 25% further tariff by the U.S. connected Indian imports came into effect connected August 27. However, India has chopped the worth of Russian lipid imports successful 8 retired of the erstwhile 10 months up to September 2025, the latest period for which determination is authoritative data. In 5 of these months — February, May, June, July, and September — the cuts were by much than 20% each.
“India has known for a portion present that its dependence connected Russian lipid imports had grown excessively precocious and truthful it was already moving connected a program to trim this,” an authoritative successful the Ministry of Commerce and Industry told The Hindu connected the information of anonymity fixed the sensitivity of the issue.
“The Trump tariffs person travel during that time,” the authoritative said. “Yes, they are a origin to beryllium kept successful mind, but they are not driving Indian policies.”
Several Indian Ministers, including External Affairs Minister S. Jaishankar, Commerce Minister Piyush Goyal, and Finance Minister Nirmala Sitharaman person asserted that India volition marque its vigor import decisions arsenic per its needs and champion interests, and not nether duress.
Declining share
The simplification of Russian lipid is not conscionable successful implicit terms, but besides successful presumption of its stock successful India’s full lipid imports.
Russian lipid accounted for astir 41% of India’s full lipid imports successful September 2024, which came down to 31% by September 2025. However, alternatively than a one-off, the information confirms this is portion of a longer process.
Russia’s stock successful India’s lipid imports grew from 1.6% successful 2020-21, to 2% successful 2021-22, earlier jumping to 19% successful 2022-23, 33.4% successful 2023-24, and 35.1% successful 2024-25.
The archetypal six months of 2025-26 have, however, snapped this four-year expanding trend, with Russia’s stock falling to 32.3% successful the April-September 2025 period.
Diversified imports
Russia’s warfare successful Ukraine, the resultant sanctions connected it by the U.S. and Europe, and the discounts it provided India resulted successful a important displacement successful India’s lipid import handbasket for a fewer years aft the warfare started, with an expanding dependence connected Russia.
Some of that is present reversing itself arsenic India erstwhile again has started shifting distant from Russian oil.
In 2021-22, the US accounted for 9.2% of India’s lipid imports and the UAE accounted for 12.4%. This was erstwhile Russia inactive lone accounted for 2% of India’s lipid imports.
By 2024-25, Russia accounted for 35.1% of India’s oil, portion the shares of the US and the UAE had fallen to 4.6% and 9.7%, respectively.
In the archetypal six months of 2025-26, the US’ stock has erstwhile again accrued to 8% and that of the UAE to 11.7%, adjacent arsenic Russia’s stock has fallen.
