Vrinda Sahai
After a steady rise for nearly three years, India’s imports of Russian crude oil declined significantly in November 2025. This followed sanctions by the United States on Russian energy companies and the imposition of substantial reciprocal tariffs on India, including duties on Russian oil purchases. In response to these economic pressures, Indian oil companies are reassessing their trade relationships with Russian counterparts.
This piece examines India’s response to U.S. sanctions and tariffs, specifically assessing the immediate market consequences, such as alterations in import costs, and the broader strategic implications for India’s energy security and foreign policy orientation.
The Scale of India’s Dependence
India is the world’s third-largest consumer of crude oil after the United States and China. In 2025, consumption rose to 265.7 million metric tonnes (MMT), growing at a rate of 3.7 percent annually. Limited domestic production capability forces India to import around 89 percent of its needs.
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