Why Russian oil remains India’s choice as conflict spreads to Red Sea

Despite escalating conflict in the Red Sea disrupting global shipping lanes, India continues to buy Russian crude oil in large volumes. The primary reason is cost: Russian oil is available at a significant discount compared to global benchmarks, saving India billions of dollars annually. Since the Ukraine war began, India has emerged as Russia’s second-largest oil customer. Indian refiners, configured to process Russian grades, have adapted to Red Sea risks by rerouting tankers around Africa or using alternative ports. This keeps fuel prices stable for millions of consumers. However, the strategy ties India’s energy security to a volatile region. Analysts say as long as the discount persists, Russian oil will remain India’s choice.