{
  "id": 9350545,
  "title": "India: Russian dependence and security focus – Standard Chartered",
  "url": "https://urgent.news/2026/09/23/india-russian-dependence-and-security-focus-standard-chartered",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T14:09:10.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/india-russian-dependence-and-security-focus-standard-chartered-202609231409"
  },
  "original_language": "en",
  "account": "Standard Chartered economists Anubhuti Sahay and Saurav Anand have highlighted India's increasing dependence on Russian oil, now accounting for 44% of the country's crude imports since the Middle East crisis, up from 2% in 2021. Energy security, not cost, is driving this shift, as Middle East and Venezuela supply restoration is needed to significantly reduce Russia's dependence. India is once again under scrutiny following the passage of Russia sanctions legislation, which could impose additional tariffs of up to 100% on countries importing energy from Russia. While implementation depends on US presidential discretion and trade negotiations, vulnerabilities exist. India's reliance on Russian oil has surged, with the country's share of Russian crude imports rising from 23% in January-February 2026 to 44% in April-July 2026. Energy security, rather than cost, is the primary driver of India's dependence on Russian oil. Since the Middle East conflict, Russia has filled most of the supply gap left by declining Middle East and Venezuela supplies, providing only modest assistance from Iran. Annual savings from Russian crude have been modest, estimated at only 0.1-0.2% of GDP since 2022.",
  "summary": "Standard Chartered economists Anubhuti Sahay and Saurav Anand highlight India’s rapidly rising reliance on Russian Oil, now at 44% of crude imports since the Middle East crisis, up from 2% in 2021.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}