India’s Russian oil cuts predate U.S. tariffs: data
BILATERAL – INDIA-USA
20 NOVEMBER 2025
- India is implementing a larger strategy to reduce its dependence on oil imports from Russia, with the higher tariffs imposed by the U.S. coming at a time when India was already cutting its Russian oil imports.
- The Russian oil-related 25% additional tariff by the U.S. on Indian imports came into effect on August 27, 2025.
- Russian oil accounted for about 41% of India’s total oil imports in September 2024, which came down to 31% by September 2025.
- Russia’s war in Ukraine, the resultant sanctions on it by the U.S. and Europe, and the discounts it provided India resulted in a significant shift in India’s oil import basket for a few years after the war started, with an increasing dependence on Russia.
- Some of that is now reversing itself as India has started shifting away from Russian oil.
- In 2021-22, the U.S. accounted for 9.2% of India’s oil imports and the UAE accounted for 12.4%. This was when Russia accounted for only 2% of India’s oil imports.
- By 2024-25, Russia accounted for 35.1% of India’s oil, while the shares of the U.S. and the UAE had fallen to 4.6% and 9.7%, respectively.
