As U.S. readies 100% tariffs, Russia provided more than half of India’s oil imports in July
Russia supplied over 51% of India's oil imports in July 2026, an all-time high, even as the U.S. House of Representatives passed a bill threatening 100% tariffs on countries importing significant Russian oil. India received Russian oil at a slight discount, but its import bill for Russian oil more than doubled compared to the previous year due to increased volumes and elevated prices.
Why it matters
This highlights India's complex geopolitical balancing act and energy security strategy amidst global sanctions, with potential economic and diplomatic implications as the U.S. moves to impose tariffs on Russian oil imports.
Russia accounted for more than 51% of India’s oil imports in July, an all-time-high, up from just a little less than 50% in the previous month, the latest official data shows. This comes even as the U.S. House of Representatives on Wednesday passed a Bill that could see 100% tariffs being imposed on India and a few other countries for their import of Russian oil.
The U.S. House of Representatives passed the ‘Lindsey O. Graham Sanctioning Russia and Iran Act of 2026’ on September 16. The Act seeks to impose tariffs of up to 100% on the top 5 countries absorbing the largest shares of Russia’s oil exports.
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