Will Russian oil be economically viable for India if Trump tariffs return?

By Sourav Mitra and Praveen RaiIndia’s search for the optimal crude import mix is a constant balancing act. As the world’s third-largest crude oil importer, and with around 88% of its crude needs met from abroad, India feels the impact of every price swing – from the pressure it puts on the forex bill to its effects on businesses and consumers. The key task therefore is to find crude oil that is affordable, reliable, and suited to domestic refining capacity. That imperative explains both India’s embrace of Russian oil after 2022 and why its economics must now be reassessed.India has an important advantage in this search. Several of its sophisticated refineries can process a wide range of crude grades, including heavier, sulphur-rich varieties that require more intensive treatment.