New Delhi: Even as the United States threatens higher tariffs, a few Indian companies have increased crude oil imports from Russia. The purchases come at a time when overall Russian oil imports into India have fallen because of international restrictions.
Government-owned Indian Oil Corporation (IOC) and Nayara Energy, which is linked with Rosneft, have raised their procurement from Russia this month. The Bharat Petroleum Corporation Limited (BPCL), one of India’s major state-owned oil and gas companies, has also continued buying, though in smaller volumes. Reliance Industries, the biggest Russian oil buyer last year, has not purchased any crude from Russia this month.
Data from analytics firm Kpler shows that in the first half of January, India imported an average of 1.18 million barrels per day from Russia. This is nearly 30 percent lower than the same period last year and below the 2025 monthly average. Compared with December 2025, imports are down by around three percent.
Which Companies Bought Russian Oil
US sanctions have reduced the number of Indian buyers for Russian crude. So far, only the IOC, the Nayara Energy and the BPCL have imported Russian crude this month. The IOC accounts for nearly half a million barrels per day, roughly 43 percent of total Russian crude arriving in India. This is its highest purchase since May 2024 and 64 percent above its 2025 monthly average.
Nayara Energy ranks second, buying about 471,000 barrels per day. That represents 40 percent of Russian crude arriving in India. This is its largest purchase in at least two years and 56 percent higher than its 2025 average.
The BPCL has bought approximately 200,000 barrels per day, slightly above its 2025 average of 185,000 barrels per day.
Companies Not Buying Russian Oil
Reliance Industries has not purchased Russian crude this month. Other companies that stayed out include the Hindustan Petroleum Corporation, the HPCL-Mittal Energy Ltd and the Mangalore Refinery & Petrochemicals Ltd.
Russian suppliers have increased discounts on crude because of falling demand from some Indian and Chinese buyers. Industry officials say that the discount on Russian Urals crude delivered to Indian ports has risen to about $5-6 per barrel. Before US sanctions on Rosneft and Lukoil in October, the discount was around $2 per barrel.
The IOC has increased its January purchases to take advantage of the cheaper prices.
