NEW DELHI: India’s crude oil imports from Russia declined marginally to 1.41 million barrels per day (mbd) in February 2025, down from 1.49 mbd in January 2024, according to cargo tracking agency Vortexa.
The country’s total crude imports in February stood at 4.77 mbd, remaining largely unchanged from 4.76 mbd in January.
Vortexa anticipates a further decline in Russian crude imports in March and April, citing sanctions imposed by the U.S. Office of Foreign Assets Control (OFAC) on January 10.
“Imports of Russian crude could decrease in the coming months due to the OFAC sanctions. We expect Middle Eastern suppliers to fill the gap,” said Ivan Mathews, Head of APAC Analysis Vortexa.
On January 10, the U.S. imposed fresh sanctions on Russian oil producers Gazprom Neft and Surgutneftegas, along with approximately 180 tankers from Russia’s so-called shadow fleet. The move aimed to curb Moscow’s revenue, which Washington claims is being used to finance the war against Ukraine. Under these sanctions, Russian oil cargoes had to be shipped by February 27 to comply with the new restrictions.