On March 7, the Indian government stated that it will continue importing crude oil from Russia, emphasizing that its decisions in this area do not require permission from any country.

The statement comes as escalating military tensions in the Middle East are causing major disruptions to global transportation networks and energy supply chains. Global oil prices have risen sharply in recent days, raising concerns about risks for economies heavily dependent on energy imports, including India.

In an official statement, the Press Information Bureau of the Government of India stressed that New Delhi’s crude oil imports do not depend on any temporary waivers from other countries. “India has never depended on permission from any nation to purchase oil from Russia,” the statement said. Earlier, on March 5, the United States announced a temporary 30-day easing of certain sanctions to allow India to purchase Russian oil shipments currently stranded at sea.

In February 2026, the United States also removed an additional 25% tariff on certain Indian exports as part of a temporary trade agreement between the two countries. In return, the South Asian nation was reportedly expected to reduce its imports of Russian oil. However, this condition was not mentioned in the joint statement, and India has neither confirmed nor denied the claim.

According to data from the Indian government, Russia remained India’s largest supplier of crude oil as of February 2026. Neither side has disclosed detailed figures regarding bilateral energy trade.

India’s crude oil storage capacity is estimated at more than 250 million barrels, enough to handle short-term market disruptions. Nevertheless, fluctuations in global oil prices have already begun affecting the domestic market. On March 7, the price of liquefied petroleum gas (LPG) for households in India increased by about 7%. On international markets, crude oil prices rose about 8.5% during trading on March 6 and nearly 30% over the past week.

To respond to the situation, India’s Ministry of Petroleum has asked domestic refineries to increase LPG production and has recommended using more propane and butane in the refining process. India is currently the world’s second-largest importer of LPG, and more than 90% of its supply comes from the Middle East.