India Boosts Russian And UAE Oil Purchases In June Ahead Of Full Hormuz Recovery

India has significantly ramped up its oil purchases from Russia and the UAE in June, as the country prepares for the full resumption of shipping traffic through the Strait of Hormuz following recent disruptions.

According to trade sources and industry data, Indian refiners have increased spot purchases of Russian crude, particularly Urals and Sokol grades, taking advantage of discounted prices. At the same time, imports from the UAE have also seen a sharp rise due to favourable terms and proximity, helping reduce freight costs.

The move comes as shipping companies and oil traders anticipate the complete restoration of normal traffic through the critical Strait of Hormuz — a chokepoint that carries nearly 20% of global oil trade. Recent tensions and incidents in the region had raised concerns about possible blockades or attacks, prompting India to build strategic reserves and diversify its sourcing.

“India is adopting a pragmatic approach to secure its energy needs. Russian crude continues to offer attractive discounts, while UAE supplies provide reliability and shorter delivery times,” said a senior official from a major Indian refinery.

India, the world’s third-largest oil importer, has been steadily increasing its share of Russian oil since 2022. In June, Russian crude is expected to account for over 40% of India’s total imports, with the UAE emerging as the second-largest supplier.

Energy experts believe this aggressive buying is part of a broader strategy to mitigate risks associated with geopolitical uncertainties in West Asia. The government is also maintaining high stock levels at strategic petroleum reserves to ensure energy security.

The increased imports are likely to help India manage fuel prices domestically even as global crude benchmarks remain volatile.