In recent months, Indian refiners have significantly increased their imports of Russian crude oil, averaging 1.98 million barrels per day in March 2023, the highest since June 2023. This surge comes as the threat of U.S. sanctions begins to fade, allowing India to capitalize on discounted Russian oil prices. Despite a slight decrease in April to 1.57 million barrels per day due to maintenance at Nayara Energy's refinery, experts predict that imports will rebound. Vandana Hari, founder of Vanda Insights, noted that India is maximizing its intake of Russian crude, especially as supplies from the Persian Gulf remain limited. The geopolitical landscape has shifted since the U.S. began applying pressure on India to halt Russian oil purchases, but recent waivers have allowed India to buy significant volumes, totaling about 60 million barrels for delivery this month. The ongoing conflict in the Persian Gulf has compounded India's challenges, leading to shortages and rising prices for crude and liquefied natural gas. Russian shipments are currently being offered at a 40% discount to spot prices, further incentivizing Indian refiners to secure these imports.