Overview

• Kpler data shows India imported about 2 million barrels per day of Russian crude in early August, accounting for roughly 38% of total oil inflows.
• Discounts on Russian Urals have narrowed to $1.5–$2 per barrel, yet refiners emphasize economic and technical fit over any government mandate.
• Indian Oil Corp. has secured another cargo of U.S. West Texas Intermediate for October delivery after President Trump threatened additional tariffs on continued Russian purchases.
• Executives say U.S. wind-down provisions allow imports loaded within seven days of the tariff order, with around 3 million barrels of Russian Urals discharged at Indian ports this month.
• Imports from Iraq and Saudi Arabia have dipped as some refiners diversify into U.S., Brazilian and Libyan grades, though any major shift in flows may only appear from late September.