Indian Oil Corp plans to replace Russian oil with supplies from America in 2026
Indian Oil Corp., India’s largest oil refining company, announced the start of importing 24 million barrels of oil from the US, Canada, Brazil, and other Latin American countries in the first quarter of 2026. This decision is due to the cessation of Russian oil purchases because of sanctions imposed by the US.
The Indian refining industry is gradually moving away from Russian oil following US sanctions against Russian oil giants Rosneft and Lukoil. The vast Indian oil market, which previously relied heavily on supplies from Russia, is now drastically changing its orientation, seeking new reliable partners in case of further escalation of international sanctions.
In addition to Indian Oil Corp., plans to replace Russian raw materials are supported by other Indian companies such as Reliance Industries and Mangalore Refinery and Petrochemicals, which are already actively negotiating with suppliers from the Middle East and America. This indicates prospects for developing international partnerships and the possibility of significantly reducing the impact of sanctions on India’s oil market.
Analysts suggest that India’s choice to diversify oil supplies will allow the country not only to reduce risks associated with sanction policies but also to open up new opportunities for strengthening economic ties with countries in the Western Hemisphere.
| Country of Oil Origin | Number of Barrels |
|---|---|
| USA | 9 million |
| Canada | 6 million |
| Brazil | 5 million |
| Other Latin American Countries | 4 million |
