India's Russian oil imports surge 39% to 2.66 mbpd as Hormuz disruption reshapes supply chains

For global supply chain strategists, India's June oil imports are a live case study in chokepoint risk management. The data shows a rapid pivot away from the vulnerable Strait of Hormuz, boosting seaborne Russian crude at discounted prices, but the fragile ceasefire underscores that supply chain resilience remains tenuous. This real-time diversification will have lasting effects on tanker rates, inventory strategies, and contractual models across the crude logistics landscape.

India's oil import data for the first 19 days of June reveals a strategic scramble to secure crude supplies ahead of the full restoration of flows from the Strait of Hormuz, the world's most critical oil chokepoint. According to maritime intelligence firm Kpler, Indian refiners boosted Russian crude purchases to an average of 2.66 million barrels per day (mbpd), a 39% surge from May's 1.91 mbpd, cementing Moscow's position as the country's top supplier. Simultaneously, imports from the United Arab Emirates remained near the record 644,000 bpd set in May, coming in at 636,000 bpd, as Indian buyers sought reliable alternatives to Hormuz-dependent Gulf barrels. This dual-track diversification underscores the country's evolving procurement strategy in the face of geopolitical upheaval.

“

According to maritime intelligence firm Kpler, Indian refiners boosted Russian crude purchases to an average of 2.66 million barrels per day (mbpd), a 39% surge from May's 1.91 mbpd, cementing Moscow's position as the country's top supplier.

The context is a fragile ceasefire between the United States and Iran, which allowed the Strait of Hormuz to begin reopening late last week after Iran had closed it in response to earlier U.S. and Israeli military action. The waterway normally handles about 20% of global oil consumption, serving as the principal export route for Saudi Arabia, Iraq, Kuwait, the UAE, and Qatar. Even before the reopening, India's sourcing had already shifted dramatically: U.S. crude imports collapsed to 91,000 bpd from 252,000 bpd in May, a drop of nearly two-thirds, as arbitrage economics and security concerns redirected tankers. Meanwhile, Venezuela emerged as India's fourth-largest supplier at 209,000 bpd, overtaking traditional sources but still trailing Saudi Arabia's 384,000 bpd, highlighting the complex geopolitical web underpinning India's supply lines.

The surge in Russian imports is not merely a reflection of Hormuz anxiety. Moscow continues to offer discounted barrels—a legacy of Western sanctions and the price-cap mechanism—making Russian crude economically irresistible for Indian refiners already squeezed by high global benchmarks. Yet, the near-record UAE volumes point to a deliberate hedge: reliable Gulf crude delivered via a reopened Hormuz provides a counterweight to the potential over-reliance on any single supplier, especially as sanctions on Russia could tighten or Moscow's export capacity becomes stretched. The sharp decline in U.S. flows, meanwhile, signals that the premium for secure, long-haul supply chain resilience may be shifting, with Indian buyers preferring the discount-perceived reliability combination of the Russia-UAE axis.