India’s Russian Oil Imports Set for Record High in June

India is set to import a record-high volume of Russian crude oil in June, as the Hormuz crisis and U.S. waivers on Russian barrels have pushed the world's third-largest crude importer to increase its purchases from Moscow.

According to preliminary vessel-tracking data from commodity analytics firm Kpler, India has imported 2.6 million barrels per day (bpd) of Russian crude so far in June. This would surpass the previous record and make Russian crude account for as much as 53.5% of all Indian oil imports. The surge is driven by the ongoing tensions in the Strait of Hormuz, which have disrupted some Middle Eastern supply, and by U.S. waivers that allow India to continue buying Russian oil without facing sanctions. For energy traders, this shift underscores the changing dynamics of global crude flows, with Russian barrels increasingly finding a home in Asia. Live fuel prices and charts on NowPrice show how these supply shifts are impacting regional benchmarks.

Looking ahead, the key question is whether India can sustain this level of Russian imports given potential changes in U.S. sanctions policy and the evolution of the Hormuz crisis. Any tightening of waivers or resolution of the Strait tensions could quickly alter the arbitrage. Traders will also watch for any response from OPEC+ producers, who may adjust output to defend market share as Russian crude continues to capture a larger slice of Asian demand.