India To Continue Russian Oil And LPG Imports After U.S. Waiver Ends

India is likely to continue importing crude oil and liquefied petroleum gas (LPG) from Russia after the expiry of a 30-day U.S. sanctions waiver, with purchases routed through non-sanctioned entities, according to Mint.

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Imports To Continue Despite Waiver Expiry

The U.S. had issued a temporary waiver in early March 2026 for Russian oil cargoes already in transit, but Treasury Secretary Scott Bessent confirmed that the waiver will not be extended. This notwithstanding, the Indian refineries are seen to continue their import operations purely on grounds of commercial interest, says Mint, quoting individuals who know about the situation.

In the meantime, India has managed to source LPG supplies worth 800,000 tonnes from Russia, Australia, and the U.S., and negotiations are being held for securing additional amounts, as per reports.

Energy Mix Becoming More Diverse

As per government figures cited in Mint, India has increased its network of energy sources to a large extent. Whereas crude oil is now being bought from 41 nations compared to 27 before, LPG supply comes from 16 countries compared to just 10 before.

External Affairs Ministry spokesperson Randhir Jaiswal said India continues to source oil from diversified suppliers.

Russian Oil Share Rises

According to data published by the Centre for Research on Energy and Clean Air (CREA), Russia’s second-biggest importer of its fossil fuel in March 2026 was India, which bought cargo worth €5.8 billion.

CREA data also indicated that imports of Russian crude increased sharply, with purchases by state-run refiners rising 148% month-on-month in March due to higher availability in the spot market.

At the same time, West Asia’s share in India’s crude imports declined from about 60% before February 28 to nearly 30%, according to government officials cited by Mint.

LPG Supply Dynamics

Russian LPG volumes remain limited so far, with shipments yet to reach Indian ports, according to Mint. In the coming years, the U.S. will be one of the major suppliers of LPG; however, new talks regarding the source of LPG are being held with Canada and Angola.

India’s LPG demand remains significant, with nearly 340 million households dependent on cooking gas.

Supply Strategy Continues

Energy import policies in India still seem to be dependent on availability and price, as refiners import oil from various regions owing to disruptions related to shipping out of West Asia.

The continued importation of Russian oil, coupled with the increased importation from other sources, is an indication that India has adopted a multi-source importation strategy.