Gulf conflicts push Russian oil share in India’s imports over half, making it even harder for New Delhi to reduce reliance on Russia

1. According to the Financial Times, due to oil supply tensions caused by conflicts in the Gulf region, India's imports of crude oil from Russia have recently reached a historic high, further deepening New Delhi’s dependence on Moscow for energy. The chief analyst at trade consultancy Kpler pointed out that in June and July, India imported over 2.6 million barrels of Russian crude oil daily, a significant rise from the 1 million barrels per day in February, accounting for more than half of the country’s total crude oil imports.2. With disruptions in navigation through the Strait of Hormuz and bleak prospects for a US-Iran peace agreement, India has been compelled to turn back to Russia to meet its domestic oil needs. To ease the impact of the Gulf crisis on the energy market, the Trump administration has approved partial waivers, allowing India to continue purchasing Russian oil.3. Meanwhile, due to interruptions in natural gas supplies from the Middle East, India, like many other Asian countries, is reverting to coal-fired power. Over the past decade, India’s annual coal production has surged by 70% to reach 1.04 billion tons.