India is assessing the impact of recent US sanctions on Russian oil companies, particularly Rosneft and Lukoil, which are significant suppliers of crude to the country. External Affairs Spokesperson Randhir Jaiswal stated, "We are studying the implications of the recent US sanctions on Russian oil companies. Our decisions naturally take into account the evolving dynamics of the global market."

India relies heavily on Russian oil, which accounts for over 35% of its total crude imports. The sanctions could disrupt this supply, but officials have indicated that there will be no immediate reactions. A source mentioned, "India’s imports from Russia are likely to be hit because of the sanctions on oil companies. But there won’t be any knee-jerk reactions. Delhi will wait and see how the situation evolves globally."

The sanctions were announced by the Trump administration and are aimed at curbing Russia's oil exports amid ongoing geopolitical tensions. Despite these measures, analysts from Kpler suggest that India and China are unlikely to completely halt their purchases of Russian crude. They noted that both countries combined import approximately 2.7-2.8 million barrels per day (mbd) of Russian oil, making full substitution difficult.

In response to the sanctions, Indian refiners are currently reviewing their contracts and shipments of Russian oil. Jaiswal emphasized that India is committed to securing affordable energy from diverse sources to meet the needs of its 1.4 billion citizens. He added, "Our position on the larger question of energy sourcing is well known."

While Indian refiners like Reliance Industries have begun sourcing oil from the US and Middle Eastern suppliers, they are also likely to continue purchasing Russian crude as long as it complies with sanctions. Jaiswal confirmed, "We are absolutely not going to discontinue buying Russian crude as long as we are complying with the sanctions."

The situation remains fluid, with Indian and Chinese companies evaluating their options in light of the sanctions. The US measures are expected to create short-term disruptions, but a complete halt in Russian oil imports from India and China seems improbable, given the geopolitical landscape and energy security priorities of both nations.