India's Russian crude oil imports decline The reduction in merchandise imports is largely due to Indian refiners drastically cutting crude oil purchases from Russia. Of India's total merchandise imports from Russia, petroleum crude typically accounts for about 80%. List of goods that India imports from Russia Apart from crude oil, India also imports several other goods from Russia, which include coal, coke, select petroleum products, fertilisers, iron, newsprint, project goods, pulses, pearls, and precious and semi-precious stones. India's Russian crude oil imports peaked in April 2025 The decline in India's import of Russian crude oil between 2025 and 2026 began after the imports peaked at $4.73 billion in April 2025, when U.S. President Donald Trump announced "Liberation Day" tariffs. Before Washington levied sanctions on Venezuela's oil, India was one of the key buyers of their crude oil.

Source: Mint February 18, 2026 09:46 UTC