Why did Russian oil imports increase after the Russia-Ukraine war?
After the Russia-Ukraine war started in 2022, Western countries imposed several sanctions on Russia’s energy sector. After this, Russia started selling its oil in Asian markets at huge discounts. During this period, India had become the largest buyer of crude coming from Russia by sea route.
However, earlier this year, due to pressure from America, India had reduced the purchase of Russian oil. This helped New Delhi avoid potential 25% tariffs and strike a temporary trade deal with the US.
President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded.
To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 6, 2026