NEW DELHI/MOSCOW: As the military conflict in West Asia threatens to disrupt global oil supplies through the strategic Strait of Hormuz, Russia has conveyed its readiness to support India with additional energy supplies, according to a Russian source cited by Reuters on Tuesday.
The offer comes at a critical moment, with global oil markets on edge and India—the world’s third-largest importer of crude oil—closely monitoring the situation. However, the Indian government has moved to reassure markets and citizens, stating that the country currently holds sufficient stocks to weather short-term shocks.
India’s Energy Security: Current Position
Government sources confirmed on Tuesday that India maintains a comfortable buffer of crude oil and refined products.
| Stock Type | Duration |
|---|---|
| Crude Oil | 25 days’ worth |
| Petroleum Products (Petrol, Diesel, ATF) | 25 days’ worth |
| Total Strategic Cover | Approximately 50 days |
Petroleum and Natural Gas Minister Hardeep Singh Puri has stated that India is well-prepared to deal with any short-term supply disruptions stemming from the evolving geopolitical situation, according to the Press Information Bureau.
The Russian Offer
Against this backdrop of uncertainty, Moscow has signaled its willingness to step in. A Russian source indicated that Moscow is prepared to provide energy supplies if the Gulf situation worsens and disrupts flows from West Asian suppliers.
This offer is significant given that about half of India’s crude and LPG imports typically transit through the Strait of Hormuz. The strait has seen shipping disruptions following US and Israeli strikes on Iranian targets and Tehran’s subsequent warnings to vessels. Insurance cover withdrawals have also affected tanker movements.
The Price Challenge
While immediate physical shortages appear unlikely, officials have warned that the more immediate impact could be on prices. Brent crude has climbed above $80 per barrel, about 10% higher since the Iran crisis began.
This raises concerns for India’s economy. The country spent:
- $137 billion on crude imports in FY2024-25
- $100.4 billion between April 2025 and January 2026 alone
Any sustained price increase would significantly impact India’s import bill and contribute to inflationary pressures.
Diversification and Precautions
In recent years, India has broadened its crude procurement strategy to strengthen energy security. Officials stated that many supplies are now being routed through alternative channels that do not rely on the Strait of Hormuz, thereby lowering exposure to regional risks.
As a precautionary measure:
- The Petroleum Ministry has established a 24×7 control room to monitor fuel availability and stock levels nationwide.
- The Airports Authority of India (AAI) has asked all international airport operators to share details of available aviation fuel stocks and projected requirements for the next seven days. This follows 355 international departures and 344 arrivals recorded on March 2.
The Complicated Russia-US Factor
The Russian offer arrives at a complex diplomatic moment. India had earlier agreed to gradually wind down purchases of Russian oil under a trade understanding with the US. However, that arrangement is now uncertain after the US Supreme Court struck down President Donald Trump’s country-based tariffs, potentially altering the calculus of that agreement.
Officials maintain that India remains in a “reasonably comfortable” position while keeping contingency plans ready. For now, the government is closely watching both the conflict zone and the oil markets, with the Russian offer providing an additional layer of strategic reassurance.
