Prime Minister Narendra Modi is set to visit Moscow soon, strengthening India-Russia ties amid rising imports of discounted Russian crude oil. This trip highlights India’s pragmatic energy strategy to fuel economic growth while navigating global tensions. Russia has become India’s top oil supplier since 2022, helping New Delhi save billions. In 2025, India imported over 1.7 million barrels per day (bpd) of Russian crude, up 12% from 2024, accounting for 40% of total oil imports. This surge cut import costs by $5-7 billion last year through discounted rates averaging $10 below Brent crude. Major refiners like Reliance and Indian Oil processed record volumes, with January 2026 imports hitting 1.8 million bpd despite Western sanctions on Russia.
Modi’s visit, expected in late March 2026, will focus on defense deals, BRICS cooperation, and energy security. India aims to diversify sources but prioritizes affordability; Russian oil meets 90% of rising domestic demand driven by 7% GDP growth. The partnership includes joint ventures in refineries and LNG, with Rosneft supplying 500,000 bpd via new pipelines.
This move counters China’s dominance in Russian energy markets and supports India’s $100 billion annual oil bill. Critics note sanction risks, but New Delhi insists payments in rupees promote trade balance. The visit underscores India’s multi-alignment policy, balancing West ties with Eastern partnerships for Viksit Bharat.
FAQs [Frequently Asked Questions]
1. Why is India buying more Russian crude?
To secure affordable energy amid global prices; Russian oil is $10 cheaper per barrel, saving $5-7 billion yearly for India’s growing economy.
2. What will Modi discuss in Moscow?
Energy security, defense deals, BRICS trade, and joint refinery projects to boost bilateral ties and ensure stable oil supplies.
3. How much Russian oil does India import?
Over 1.7 million bpd in 2025, 40% of total imports, with peaks at 1.8 million bpd in early 2026.
(*Image Source- The Hindu)