Russia Proposes Increased Crude Oil and LNG Supply to India Amid West Asia Crisis
Russia offers to increase supply of crude oil, LNG to India amid war in West Asia
The Hindu
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Russia has offered to boost its supply of crude oil and liquefied natural gas (LNG) to India, amid ongoing volatility in the global energy market due to the West Asia crisis. This announcement follows high-level meetings between Russian officials and Indian leaders, focusing on enhancing bilateral energy cooperation.
- 01Russia aims to increase crude oil and LNG supplies to India.
- 02Meetings included discussions on bilateral trade and energy cooperation.
- 03India's share of Russian oil imports has decreased recently.
- 04The U.S.-Israel conflict has influenced India's energy procurement strategy.
- 05Bilateral ties were reviewed, including progress from the previous India-Russia summit.
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In response to the ongoing crisis in West Asia, Russia has proposed to increase its supply of crude oil and liquefied natural gas (LNG) to India. This offer was made during meetings in New Delhi between Russia’s First Deputy Prime Minister Denis Manturov and Indian officials, including National Security Advisor Ajit Doval and External Affairs Minister S. Jaishankar. The discussions emphasized the importance of energy cooperation, particularly as global oil prices have surged due to disruptions in the Strait of Hormuz, a critical shipping lane. Notably, India's imports of crude oil from Russia fell to 19.3% in January 2026, down from 27.5% just two months prior, highlighting a shift in India's energy sourcing amid geopolitical tensions. The meetings also addressed broader bilateral relations, including trade, investment, and cooperation in various sectors such as fertilizers and civil nuclear energy. Both nations are working towards a roadmap to enhance their economic partnership, aiming for $100 billion in annual trade by 2030.
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The increase in Russian oil and gas supply could stabilize energy prices in India, benefiting consumers and industries reliant on these resources.
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