India has moved to revive energy cooperation with Russia just months after cutting crude imports in a bid to ease US tariff pressure. Officials from New Delhi and Moscow have now agreed to explore resuming direct liquefied natural gas (LNG) supplies for the first time since the Russia Ukraine War , with negotiations potentially concluding within weeks.
The renewed talks follow disruptions caused by the US-Israeli strikes on Iran , which triggered retaliation affecting key shipping routes. India, heavily dependent on energy flows through the Strait of Hormuz, has faced supply concerns, rising fuel costs, and domestic shortages.
During a March 19 meeting in Delhi, Russian Deputy Energy Minister Pavel Sorokin and India’s Petroleum Minister Hardeep Singh Puri discussed expanding crude shipments and advancing LNG cooperation. Russian oil could soon account for up to 40% of India’s total imports, doubling January levels.
India had previously become one of Russia’s largest crude buyers following Western sanctions, importing discounted oil worth nearly $44 billion last year. However, purchases declined after Trump imposed steep tariffs later ruled unlawful by the US Supreme Court on Indian exports.
Now, with energy markets tightening, Indian authorities are reconsidering earlier concessions. The government has also approached Washington for possible sanctions waivers to resume Russian LNG imports, while continuing limited purchases of non-sanctioned fuels.
Analysts say the shift reflects India’s strategic balancing act between the US and Russia, as it seeks to secure affordable energy while managing geopolitical risks. Russia, for its part, is capitalising on the moment to deepen economic ties, including potential investments in India’s power infrastructure and expanded trade settlements in local currencies.
Officials warn that prolonged Middle East instability could drive inflation higher, weaken India’s currency, and strain economic growth underscoring the urgency behind Delhi’s renewed outreach to Moscow.
Goodness Anunobi
Follow us on:
