Russia’s share in Indian oil imports crossed 40% in May 2026 even as premium pricing continued
Russian oil accounted for over 40% of India's total oil imports in May 2026, despite India paying a premium compared to other global suppliers. While India is attempting to diversify its energy sources, rising global prices have significantly increased the national oil import bill.
Why it matters
The data highlights the complexities of India's energy security strategy and the economic impact of global oil price fluctuations on the domestic economy.
Russia’s share in India’s oil imports rose above 40% in May 2026, the highest in nearly two years, according to official government data. Further, the data shows that Russia charged India a premium for its oil, while other sources such as the U.S. and even the UAE sold India oil at lower-than-average prices.
The article relies on government data and provides a factual analysis of import trends and pricing without taking a political stance.
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