India's Russian Oil Jackpot Faces New Threats As U.S Waiver Ends, Ukraine Drones Strike Refineries
Jun 20, 2026, 06:45:00 PM | TOI.in India's Russian oil imports are on track to hit an all-time record of roughly 2.35 million barrels per day in June. Ironically, a conflict involving Iran helped strengthen Russia's position in India's energy basket. As fears grew over disruptions in the Strait of
By Timesofindia.com
Jun 20, 2026, 06:45:00 PM | TOI.in
India's Russian oil imports are on track to hit an all-time record of roughly 2.35 million barrels per day in June. Ironically, a conflict involving Iran helped strengthen Russia's position in India's energy basket. As fears grew over disruptions in the Strait of Hormuz, Indian refiners rapidly diversified toward Russian crude, valuing reliability and stable supply over uncertain Gulf shipping routes. But the record surge may face serious challenges with three new threats looming large. Has India become too dependent on Russian oil? Will refiners continue buying at record levels? And can Moscow maintain supply under growing pressure? This report breaks down the shifting energy map and what it means for India's economy and energy security.