Industry Odisha Bureau, Aug 11: Prior to the threat in shape of 100% tariff levy by Donald Trump-led US regime looming large over India against the purchase of Russian crude oil, India’s Russian crude oil imports have reportedly risen an all-time-high 48% in June this year.
As per media reports, “An analysis of the latest data shows Russia’s share in India’s oil imports rose to an all-time-high of 48% in June 2026 in terms of quantity and 48.6% in terms of value. India imported 8.7 million metric tonnes (MMT) of Russian oil in June 2026. Statistically, it is just 1% lower than May, and 25% higher than in June of last year.”
Media reports have also stated, “Russia’s share in India’s crude oil import bill has been rising sharply after Russia attacked Ukraine on February 24, 2022. This share has reached levels around 30-40% in subsequent years. Following the attack of US-Israel joint forces on Iran on February 28 this year, Russia’s share in India’s crude oil import rose sharply again and has reached 48.6% in June this year”.
Notably, “The US Senate has already passed the Bill ‘Sanctioning Russia and Iran Act of 2026’. The bill is awaiting the same formal nod from the House of Representatives next month (September). The Act after being accorded seal of approval by the US Congress would enable incumbent US President Donald Trump to impose tariffs up to 100%.
Countries like India and China being listed among the top five importers of Russian oil and gas are likely to face the maximum wrath under the Act. While India is claimed to be the world’s third-largest oil importer and fourth-largest oil refiner, Russian crude oil accounts for about 48% of imports made by India’s state-run oil refineries.”
