As of April 2026, Russia’s share of India’s oil imports was roughly 34%. File photograph is for consultant functions solely. |Picture offered by: Reuters
Russia’s share of India’s oil imports soared to just about 38% in April 2026, an 11-month excessive, as India continues to extend its dependence on Russia amid the continued West Asian disaster.
With this elevated dependence, the premium Russia costs for oil has jumped by 425%, in distinction to the low cost it was providing till just lately.
As of April 2026, Russia’s share of India’s crude oil imports was roughly 34%. On the identical time, India’s dependence on US oil, each in worth and quantity, has fallen to its lowest degree in months.
Oil imports get better
India’s whole oil imports recovered to 19.53 million tonnes in April 2026 after falling to 158.5 million tonnes in March following the onset of the West Asian disaster, based on knowledge evaluation by the Ministry of Commerce and Business.
Nonetheless, though the amount elevated by 23% in comparison with March 2026, because of the rise in crude oil costs, India’s whole oil imports in April 2026 elevated by 61.3% in comparison with the earlier month’s degree to $15.4 billion.
Of this, India’s oil imports from Russia reached almost 6.7 million tonnes in April, a rise of 27% from March and accounted for 34.3% of the whole oil imported by India in the identical month.
costly russian oil
The rise in costs had a major impression on the quantity India paid for this oil. hinduism Final month, he reported that the low cost Russia was providing India on oil costs would flip right into a premium in March 2026.
The information reveals that India paid an excellent increased premium for Russian oil in April 2026 than in March. India’s whole imports of Russian oil reached $5.8 billion as of April 2026, accounting for 37.7% of India’s whole oil imports in that month.
In April, India paid Russia $864.9 per ton for crude oil, however India paid $787.1 per ton for crude oil imports from every nation. This can be a premium of $77.8 per tonne in comparison with the $14.8 per tonne premium paid to Russia in March 2026, a rise of 425%.
In the meantime, as of April 2026, the US share of India’s oil invoice was simply 2.9%, the bottom degree in eight months. When it comes to worth, it accounted for 3.8%, which was additionally the bottom degree in eight months.
