Russian crude deliveries to India cross $43 bn

Russian crude shipments to India soared past $43 billion in 2025, marking a 25% increase in the first half of 2026, according to a senior Russian diplomat. The surge in energy trade between the two nations is fueled by a strong political bond and the complementary strengths of their economies. India, which relies heavily on Russia for oil, processes the crude at its refineries to meet domestic demand and generate profits by exporting refined products.

Russia's largest investment in India is through Nayara Energy, a joint venture company that refines Russian crude into oil products and distributes them across the country. Both countries are also exploring collaborations in the gasification of Indian cities, construction of new energy infrastructure, and development of energy resources in India.

The two nations have each invested around $15 billion in each other's oil and gas enterprises, with Indian companies holding stakes in Russian energy firms such as Vankorneft and Taas-Yuriakh. India's nuclear power sector remains heavily dependent on Russia, with the Kudankulam nuclear power plant being a key example of their joint efforts.

The future holds potential for nuclear technology cooperation, including the development of small modular reactors and the nuclear fuel cycle. The Indic Researchers Forum recently hosted a dialogue on energy security, with India set to become the first official partner country at the Russia Energy Week International Forum in Moscow.