Since the start of the Russia-Ukraine war in 2022, India has significantly ramped up its crude oil imports from Russia—emerging as one of Moscow’s top buyers. Attracted by steep discounts and the need to secure affordable energy for a growing economy, India’s decision has drawn sharp attention from Western nations, particularly the United States.
Tensions escalated further after former U.S. President Donald Trump suggested imposing penalties on India for continuing to trade with Russia. In response, Indian officials pointed to the hypocrisy of Western nations—particularly the European Union and the U.S.—who continue to maintain certain levels of trade with Russia themselves, including indirect imports of energy and critical goods.
This raises a crucial question: How much oil does India import from Russia—and why is it being singled out when others trade too? Market Inside breaks down the numbers, the strategy behind India’s oil policy, and the growing friction between New Delhi and America.
Why does India call out EU and U.S. trade with Russia after Trump imposed a penalty on India?
India said it was being “targeted” by the U.S. and the European Union over its imports of Russian oil. The statement from New Delhi comes after U.S. President Donald Trump threatened with much steeper tariffs.
India began importing oil from Russia only after “traditional supplies” were diverted to Europe following the outbreak of the Russia-Ukraine war in 2022.
How much crude oil does India import from Russia?
When the war started, shipment of goods was halted, and India started importing oil from Russia. As time moves, India began exploring discounts on imports of Russian oil. In the last three years, India’s imports of Russian oil have increased substantially. Take a look!
| Year | Value USD Billion |
| 2020 | 0.9 |
| 2021 | 2.3 |
| 2022 | 25.5 |
| 2023 | 44.7 |
| 2024 | 51.2 |
| 2025-Q1 | 10.3 |
India called out the EU and the U.S., saying, “It is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion [for them].”
How much EU trade with Russia?
The EU’s bilateral trade with Russia stood at 67.5 billion euros ($78.1 billion) in 2024, while its services trade in 2023 was at 17.2 billion euros. Citing those numbers, India said the bloc’s trade was “significantly more” than India’s total trade with Russia.
According to a report, bilateral trade between New Delhi and Moscow reached a record $68.7 billion for the year ended March 2025, nearly 5.8 times higher than the pre-pandemic trade of $10.1 billion.
| Year | EU Imports from Russia | EU Exports to Russia |
| 2020 | 125 | 91 |
| 2021 | 205 | 106 |
| 2022 | 215 | 57 |
| 2023 | 53 | 40 |
| 2024 | 38 | 35 |
*****Value USD Billion
The EU, meanwhile, was Russia’s third-biggest trade partner in 2024, accounting for 38.4% of the country’s total global trade in goods, sliding from being Moscow’s top partner in 2020. EU’s goods trade with Russia dropped nearly 74% in 2024 from 257.5 billion euros in 2021.
Russia became the leading oil supplier to India since the war in Ukraine began, increasing imports from just under 100,000 barrels per day before the invasion, or a 2.5% of its total imports, to more than 1.8 million barrels per day in 2023, or 39%, according to the U.S. Energy Information Administration’s report earlier this year.
According to the International Energy Agency, 70% of Russian crude was exported to India in 2024. India said oil imports were meant to ensure predictable and affordable energy costs to the Indian consumer.
How much U.S. trade is with Russia?
Three years after Russian President Vladimir Putin launched his full-scale invasion of Ukraine, the United States still imports billions of dollars worth of Russian energy and commodities, including enriched uranium. Since January 2022, the US has imported $24.51 billion of Russian goods. In 2024 alone, Washington imported fertilisers worth $1.27 billion, uranium and plutonium worth $624 million, and palladium worth around $878 million from Moscow.
| U.S. Imports from Russia | Value USD Billion |
| Total Commodities | 3.2 |
| Fertilisers | 1.3 |
| Pearls and Precious Stones | 0.8 |
| Inorganic Chemicals | 0.6 |
| Wood and Articles | 0.08 |
Amid the United States’ tariff threats to India over Russian oil imports, US President Donald Trump has claimed he was unaware of Washington’s uranium and fertiliser trade with Moscow– a point New Delhi has highlighted while defending its Russian imports. He also indicated increasing duties on nations continuing their trade relationship with Moscow, but did not disclose any number for the same.
“I don’t know anything about it. I have to check it out,” Trump said on India’s claim that Washington was singling it out unfairly while continuing to do business with Moscow itself.
US top 5 import items and country-wise share in that items
| Country | Computer & Electronic Products | Transportation Equipment | Chemicals | Machinery, Except Electrical | Electrical Equipment, Appliances |
| US Share in Total | 16.9 | 15.1 | 12.1 | 7.6 | 6.0 |
| Australia | 0.2 | 0.1 | 0.4 | 0.2 | 0.1 |
| China | 22.2 | 3.9 | 6.0 | 13.0 | 28.7 |
| India | 2.2 | 0.7 | 4.6 | 2.3 | 1.4 |
| Indonesia | 0.5 | 0.1 | 0.4 | 0.2 | 1.4 |
| Japan | 2.3 | 11.5 | 4.7 | 11.3 | 5.0 |
| Malaysia | 5.8 | 0.1 | 0.7 | 1.0 | 2.1 |
| Philippines | 1.1 | 0.2 | 0.1 | 0.3 | 0.9 |
| Singapore | 1.1 | 0.1 | 5.3 | 1.2 | 0.4 |
| South Korea | 3.6 | 9.4 | 3.2 | 5.7 | 5.6 |
| Taiwan | 14.1 | 1.0 | 0.7 | 2.9 | 2.2 |
| Thailand | 5.0 | 0.6 | 0.3 | 1.8 | 3.5 |
| Vietnam | 10.6 | 0.4 | 0.2 | 1.9 | 3.7 |
*******Value in %
Source: US International Trade Administration
Conclusion
India’s crude oil imports from Russia have surged dramatically in recent years—not out of political alignment, but out of economic necessity. Heavily dependent on imported energy to fuel its growth, India has leveraged discounted Russian crude to cushion inflation and stabilize its energy market. Yet, this pragmatic approach has drawn criticism from the West, particularly the U.S., which views such trade as undermining sanctions against Moscow.
India, however, has pushed back against what it sees as a double standard—calling out ongoing European and American trade with Russia while being penalized for its own. The situation highlights the complex balancing act India must perform: securing its national interests while navigating global political pressure.
As the global energy landscape continues to evolve, keeping track of trade dynamics, policy shifts, and geopolitical tensions will be essential for understanding where the market is headed next.
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