India Resumes Russian Oil Purchases as U.S. Waiver Eases Hormuz Crisis Pressure
As the Iran War Strains Global Supply, New Delhi's Russian Oil Balancing Act Returns to Centre Stage
N
EW DELHI / WASHINGTON — India’s oil procurement strategy has again become a focal point of international geopolitics as New Delhi resumes sizeable purchases of Russian crude, even after reducing imports under pressure from the United States earlier this year. The shift follows a U.S.-issued 30-day waiver granted specifically after the U.S.-Israel war against Iran caused Tehran to threaten vessels at the Strait of Hormuz, stranding millions of barrels at sea and triggering a 25-day supply clock for Indian refiners.
India, importing about 90% of its crude needs, faces a complex strategic calculation. The waiver comes amid competing pressures: securing energy supply, navigating U.S. sanctions on Russian energy exports tied to the Ukraine war, and maintaining strategic autonomy in a tightening global market.
The U.S. Treasury Department issued the 30-day waiver under sanctions rules after Iranian threats to Hormuz shipping disrupted cargo routes, allowing Indian refiners to accept Russian crude shipments already loaded at sea. New Delhi emphasizes India does not require permission from the U.S. to buy Russian oil. Officials reject narratives that Washington “orders” India’s energy decisions.
The trajectory of events has been sharp. Early 2025 saw U.S. tariffs and pressure lead India to explore alternatives, including Venezuelan crude. On February 2, 2026, the U.S. and India announced a trade deal in which President Trump publicly claimed India agreed to stop buying Russian crude. India neither confirmed nor denied the commitment, leaving the terms unresolved. By February 2026, Russian oil imports had fallen to their lowest levels since 2022 due to sanctions and logistics constraints. In March 2026, the U.S. granted its 30-day waiver for Hormuz-stranded shipments; India simultaneously asserted its policy autonomy. Between March 5 and 8, 2026, state refiners resumed Russian oil deliveries as New Delhi continued balancing relations with the U.S., Russia, and BRICS partners.
India is not dependent on permission from any country to buy Russian oil.
Analysts and officials have offered competing interpretations of the policy shift. To what extent did U.S. pressure influence India’s import decisions? Officially, India denies stopping imports; reductions were tied to sanctions logistics and tariffs, though energy analysts at Kpler note the timing of the February import collapse suggests coordination with Washington. Does the waiver imply dependence on U.S. approval? The waiver eased restrictions for specific Hormuz-stranded cargoes, but India maintains it exercises independent policy judgment. What does this mean for India’s BRICS relations? The episode underscores New Delhi’s persistent tightrope walk: maintaining economic ties with Russia and BRICS while cooperating with the U.S. on trade and security.
The longer arc tells a story of shifting pressures. Between 2022 and 2023, India increased purchases of discounted Russian crude as U.S. scrutiny began. Early 2025 brought American tariffs and exploration of alternatives including Venezuela. The February 2, 2026 trade deal introduced an unverified U.S. claim of an Indian commitment to halt Russian crude purchases. February 2026 saw Russian oil imports fall to their lowest levels since 2022. March 2026 brought the Hormuz crisis, the U.S. waiver, and India’s assertion of autonomy. By March 5–8, state refiners had resumed deliveries, with analysts highlighting the balancing act between Washington, Moscow, and BRICS.
