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Indian oil refining companies are urgently purchasing millions of barrels of Russian oil due to supply disruptions amid the conflict between Israel and the US with Iran, Reuters reported, citing six sources familiar with the situation.
One source noted that India has approached the US administration requesting permission to import Russian oil due to the conflict surrounding Iran. The US has repeatedly demanded that India cease buying oil from Russia, believing that these purchases fund military actions in Ukraine.
According to the agency, India is in a vulnerable position due to energy supply disruptions — its oil reserves last approximately 25 days of consumption. About 40% of its imported crude is sourced from the Middle East through the Strait of Hormuz.