India's Russian oil imports hit a record 2.6 million barrels a day amid the Gulf crisis

According to Donya-e-Eqtesad, reporting Monday, Shahrivar 2, 1405 (August 24, 2026) on Financial Times coverage citing Kepler senior analyst Sumit Ritolia, India imported more than 2.6 million barrels a day of Russian oil on average in June and July 2026, up from just 1 million barrels a day in February, when U.S. and Israeli operations against Iran began. Russian oil now accounts for more than half of India's roughly 5 million barrel a day crude imports, the highest level since the war started.

The report said the sharp drop in oil transiting the Strait of Hormuz has again pushed India, which relies on imports for more than 90 percent of its oil and gas needs, toward Russian crude, despite U.S. exemptions issued for the purchases.