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• Russian crude accounted for just 21.2 per cent of India’s total oil imports in January, the lowest share since late 2022.
• Imports from Russia fell about 23.5 per cent from December and about a third year-on-year.
• Oil from the Middle East rose to roughly 55 per cent of India’s imports, marking the highest share in the period analyzed.
• Latin American oil made up around 10 per cent, a 12-month high for those grades.
• A US-India interim trade deal eased duties partly in return for New Delhi reducing Russian oil purchases.

India’s crude oil import mix shifted significantly in January 2026 as the share of Russian crude fell to its lowest level since late 2022, according to industry data, a move that reflects geopolitical pressures and a rebalancing of the country’s energy sources.

New Delhi, the world’s third-largest oil importer and consumer, has long relied on discounted Russian crude since Moscow invaded Ukraine in early 2022. At times during the past few years, India imported more than 2 million barrels per day (bpd) of Russian crude, making it one of Moscow’s biggest buyers. But in January, Russian oil accounted for only 21.2 per cent of India’s total crude imports, the smallest proportion since October 2022, according to data compiled by industry analysts.