NEW DELHI: India’s import of petroleum crude increased marginally by 2.7% in FY 2025‑26, even as imports from Russia declined, according to the Economic Survey released on Friday.
The survey highlighted that in 2025 the country diversified its crude oil import sources beyond traditional suppliers such as Russia, Saudi Arabia, Iraq and Venezuela. In FY26 (April–November), crude oil imports from Libya, Egypt, Brazil, the United States and Brunei increased significantly compared with the same period in FY25, while those from Russia, Saudi Arabia, Iraq and Venezuela declined.
India faced international pressure, particularly from the United States, over its imports of discounted Russian crude ever since Russia’s war with Ukraine. In August 2025, the US imposed a tariff linked to India’s purchase of Russian oil, raising the duty on Indian exports to 50 per cent in retaliation for continued energy purchases from Moscow.
Lately, India has significantly reduced its Russian oil imports and diversified its crude purchases to include more supplies from alternative sources, as reflected in the changing import shares.
Between April and November 2025, the share of imports from the US rose to 8.1 per cent from 4.6 per cent in the same period a year earlier, while the UAE’s share increased to 11.1 per cent from 9.4 per cent, Egypt’s share went up to 1.4 per cent from 0.3 per cent, Nigeria’s share rose to 3.3 per cent from 2.2 per cent and Libya’s share increased to 0.5 per cent from 0.1 per cent, reflecting India’s broader sourcing strategy.
Meanwhile, the survey also noted that ethanol‑blended fuels have become an important pillar of the nation’s energy security strategy in recent years. As of August 2025, ethanol blending has saved India more than ₹1.44 lakh crore in foreign exchange and facilitated the substitution of about 245 lakh metric tonnes of crude oil. With blending targets rising toward E20, the programme has expanded beyond traditional sugar‑based feedstock to include food grains, particularly maize, to support increased ethanol production and blending.