Russia says it’s ready to fulfill India’s energy needs amid West Asia crisis
Iran War: India depends heavily on West Asia for crude oil and LNG imports but has diversified its sources over recent years.
- Mar 4, 2026,
- Updated Mar 4, 2026 8:07 AM IST
Russia has said it is ready to fully meet India's energy needs amid ongoing disruptions to oil and gas imports from West Asia. This assurance comes amid recent attacks on vital energy infrastructure in the region.
The statement from Moscow arrives as Indian authorities review their contingency plans for energy security. An official from the Russian Embassy said, "We are ready to fulfil demands of India's energy needs in case of continued disruption of energy supplies," in a statement to PTI.
QatarEnergy suspended liquefied natural gas production on March 2, due to damage caused from an Iranian drone strike. These events have further strained global supply chains, with the Strait of Hormuz, a key shipping route, also facing blockades amid rising tensions.
India depends heavily on West Asia for crude oil and LNG imports but has diversified its sources over recent years. Increased supplies from Russia now play a significant role in maintaining continuous energy availability. However, US’ high tariffs on India – which has now been lowered – imposed as a penalty for purchasing Russian oil, remains a major concern.
The Ministry of Petroleum and Natural Gas assured that India has sufficient stocks of crude oil and key petroleum products, including petrol, diesel, and automatic transmission fluid, to manage short-term disruptions. The ministry added, "India has ensured both availability and affordability of energy for its population by diversifying its sources. Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz."
INDIA’S OIL CONNUNDRUM
While the Oil Minister claims India can store enough crude and fuel for about 74 days, industry sources say actual inventories cover only 20 to 25 days. With Middle Eastern crude now the largest share of imports since late 2022, India’s exposure to regional volatility has grown. The government has pledged to keep fuel available at affordable prices despite international shocks.
Recent Israeli and US strikes on Iran have closed the Strait of Hormuz, a route for a fifth of global oil shipments. In January, the Middle East supplied about 55 per cent of India’s crude imports, or 2.74 million barrels per day, as Russian oil purchases fell under US pressure.
Ajay Parmar, director at ICIS, noted, “China has at least six months’ worth of crude supplies in storage. Indian inventories are much lower though, and so (it) is much more vulnerable in this situation.”
Despite official statements about storage capacity, industry figures suggest a more limited buffer. The oil ministry has said it will take all necessary steps to ensure fuel remains affordable.
The White House and the Office of Foreign Assets Control have not commented on whether the US would allow India to resume Russian oil purchases without a 25 per cent tariff. If reserves dwindle, India may need to seek alternative suppliers.
Russia has said it is ready to fully meet India's energy needs amid ongoing disruptions to oil and gas imports from West Asia. This assurance comes amid recent attacks on vital energy infrastructure in the region.
The statement from Moscow arrives as Indian authorities review their contingency plans for energy security. An official from the Russian Embassy said, "We are ready to fulfil demands of India's energy needs in case of continued disruption of energy supplies," in a statement to PTI.
QatarEnergy suspended liquefied natural gas production on March 2, due to damage caused from an Iranian drone strike. These events have further strained global supply chains, with the Strait of Hormuz, a key shipping route, also facing blockades amid rising tensions.
India depends heavily on West Asia for crude oil and LNG imports but has diversified its sources over recent years. Increased supplies from Russia now play a significant role in maintaining continuous energy availability. However, US’ high tariffs on India – which has now been lowered – imposed as a penalty for purchasing Russian oil, remains a major concern.
The Ministry of Petroleum and Natural Gas assured that India has sufficient stocks of crude oil and key petroleum products, including petrol, diesel, and automatic transmission fluid, to manage short-term disruptions. The ministry added, "India has ensured both availability and affordability of energy for its population by diversifying its sources. Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz."
INDIA’S OIL CONNUNDRUM
While the Oil Minister claims India can store enough crude and fuel for about 74 days, industry sources say actual inventories cover only 20 to 25 days. With Middle Eastern crude now the largest share of imports since late 2022, India’s exposure to regional volatility has grown. The government has pledged to keep fuel available at affordable prices despite international shocks.
Recent Israeli and US strikes on Iran have closed the Strait of Hormuz, a route for a fifth of global oil shipments. In January, the Middle East supplied about 55 per cent of India’s crude imports, or 2.74 million barrels per day, as Russian oil purchases fell under US pressure.
Ajay Parmar, director at ICIS, noted, “China has at least six months’ worth of crude supplies in storage. Indian inventories are much lower though, and so (it) is much more vulnerable in this situation.”
Despite official statements about storage capacity, industry figures suggest a more limited buffer. The oil ministry has said it will take all necessary steps to ensure fuel remains affordable.
The White House and the Office of Foreign Assets Control have not commented on whether the US would allow India to resume Russian oil purchases without a 25 per cent tariff. If reserves dwindle, India may need to seek alternative suppliers.