By Rachel Akper

India has contracted about 60 million barrels of Russian crude oil for delivery in April, marking a significant increase in imports amid rising global energy uncertainties, Bloomberg reported on Tuesday.

The April purchases double India’s February imports from Russia and are roughly in line with March volumes, according to sources familiar with the transactions.

The deals come as geopolitical tensions in the Middle East, including escalating conflicts in West Asia, have disrupted traditional oil supply channels, tightening global crude availability.

Some Indian refiners are reportedly settling payments for Russian oil in alternative currencies, moving away from the U.S. dollar in response to changing geopolitical and financial dynamics.

The Russian cargoes were booked at premiums ranging from $5 to $15 per barrel over Brent crude, reflecting the tighter market conditions.

India, the world’s third-largest crude importer, relies on imports for over 85% of its domestic consumption. While Indian refiners had reduced Russian oil purchases under international pressure earlier this year, recent supply disruptions have prompted renewed buying.

Analysts say the surge in Russian crude purchases highlights India’s strategy to secure affordable and reliable energy supplies amid volatile global markets.