Russia is prepared to divert crude oil supplies to India to offset disruptions linked to the escalating conflict in West Asia, with around 9.5 million barrels of Russian crude already on vessels near Indian waters that could arrive within weeks, according to a Reuters report.
Russian officials told Reuters on Tuesday that Moscow is ready to support India with energy supplies if disruptions to shipments from the Gulf intensify.
The development comes as the conflict triggered by US-Israeli strikes on Iran entered its fifth day, with blasts reported across several West Asian cities.
Russian crude already near India
According to the Reuters report, about 9.5 million barrels of Russian crude are currently on vessels near Indian waters, which could reach refineries within weeks if required.
People from the oil refining industry cited by Reuters said Indian refiners are in regular contact with traders selling Russian crude as they monitor supply risks linked to the conflict.
The report said any increase in Russian oil purchases would depend on guidance from the Indian government.
India currently holds six to eight weeks of fuel stocks
Indian government officials told Reuters that the country currently holds sufficient crude and fuel inventories to meet domestic demand for petrol, diesel and other fuels for six to eight weeks.
Officials also said New Delhi is exploring alternative sources to import crude oil, liquefied petroleum gas (LPG) and liquefied natural gas (LNG) if the West Asia conflict lasts beyond 10 to 15 days.
Hormuz disruption raises supply risks
About 40 percent of India’s crude imports pass through the Strait of Hormuz, one of the world’s most important oil shipping chokepoints.
Access to the passage has become difficult after vessels were struck by Iranian attacks that followed US and Israeli strikes on targets inside Iran, Reuters reported.
The Strait of Hormuz connects Gulf oil producers with global markets and carries a significant share of global crude exports.
Energy trade amid US pressure
The Reuters report noted that US President Donald Trump last month agreed to drop punitive tariffs on imports from India linked to New Delhi’s purchase of Russian oil, saying India had agreed to “stop buying Russian oil.”
India has not halted Russian purchases.
Indian officials have repeatedly said the country’s energy strategy is to diversify supply based on market conditions and evolving international dynamics, according to the report.
People cited by Reuters said any increase in intake from Moscow would depend on government guidance as trade talks with the United States continue.
Russia also offers LNG after Qatar halt
Russia has also indicated it is ready to supply liquefied natural gas (LNG) to India, Reuters reported.
The offer follows Qatar halting LNG production on Monday as the West Asia conflict widened, the report said.
India imports significant volumes of LNG to meet domestic gas demand, making alternative supply sources critical if Gulf shipments are disrupted.
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