India to boost Russian oil imports in September despite US tariff pressure

India is expected to raise its imports of Russian crude oil in September, according to traders, even as Washington ramps up punitive tariffs aimed at curbing New Delhi’s purchases and squeezing Moscow’s wartime revenues.

Three industry sources told media that Indian refiners plan to increase imports by 10–20% from August levels—equivalent to an additional 150,000 to 300,000 barrels per day. This comes at a time when Russia has more barrels to sell due to refinery outages at home, many caused by Ukrainian drone strikes that have disrupted nearly a fifth of its processing capacity.
Since Western sanctions on Moscow following its 2022 invasion of Ukraine, India has emerged as the single-largest buyer of Russian seaborne crude, taking advantage of deep discounts. Russian supplies now cover roughly 40% of India’s oil demand—about 1.5% of global output—making the South Asian nation central to Moscow’s export strategy. China and Turkey are also big buyers of Russian oil.
The reliance on discounted Russian barrels has sparked friction with Washington. The administration of President Donald Trump raised US tariffs on Indian goods to as high as 50% this week, saying New Delhi was undermining international efforts to pressure Russia into ending the war. American officials accuse India of “profiteering” from Moscow’s isolation, while Indian leaders argue the West applies double standards, noting that the US and European Union continue to buy billions of dollars’ worth of Russian commodities.
Prime Minister Narendra Modi, while pursuing dialogue with Washington, has also deepened ties with Moscow. His recent meeting with Russian President Vladimir Putin underscored New Delhi’s intent to maintain energy cooperation despite geopolitical headwinds. Indian officials insist the country’s energy security and economic stability remain the top priority.
“Given India’s rising domestic refining runs and the availability of discounted Russian barrels, we don’t expect a meaningful reduction in Russian oil imports despite the tariffs,” BNP Paribas said in a market note.
In the first 20 days of August, India imported around 1.5 million barrels per day of Russian crude, steady from July but slightly below the January–June average of 1.6 million bpd, according to data from energy analytics firm Vortexa. Major refiners Reliance Industries and Nayara Energy—Russia’s Rosneft holds a majority stake in the latter—remain key players in this trade, though both firms have declined to comment publicly on the September outlook.