India’s Russian crude imports hit record high in July
Analysts and refiners emphasised that Moscow has transformed into New Delhi’s strongest energy security hedge, particularly since the closure of the Strait of Hormuz (SoH) and growing disruptions in the Bab-el-Mandeb strait
India's imports of Russian crude oil surged to a record high in July 2026, valued at approximately $6.4 billion, or ₹61,000 crore, exceeding the previous high of $5.14 billion in June 2026. Analysts attribute this surge to Moscow's emergence as India's strongest energy security hedge, following the closure of the Strait of Hormuz and disruptions in the Bab-el-Mandeb strait.
The Centre for Research on Energy and Clean Air (CREA) highlighted that while Russia's oil product exports reached an all-time low, India's imports of Russian crude oil hit a record high for the second consecutive month. The increase was driven by terminals other than the two largest, Jamnagar and Paradip, indicating a broader reliance on Russian crude imports.
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