India's reliance on Russian oil hits a record as the Hormuz route's share falls to about 30%

India's crude oil imports hit a record of around 5 million barrels per day in June, with purchases of Russian oil surging to an all-time high of about 2.6 million barrels per day, equal to 54 percent of total imports. In the first half of July, Russian flows held near 2.5 million barrels per day, keeping Russia's share close to 50 percent. Before the West Asia crisis began in February, nearly 50 percent of India's imported crude came from the region, mostly via the Strait of Hormuz; but as Hormuz risk intensified, that share fell to about 30 percent, with Russian crude taking its place. Analysts warn that continued disruption of Persian Gulf exports would sharpen competition for Russian cargoes and push India's oil import bill higher.