India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

India buys about 90 per cent of its crude oil from overseas and has been the biggest market for Russian seaborne crude since 2023, according to ship tracking data compiled by Kpler. India imports about 5mn barrels of oil a day, of which 2mn come from Russia.

By bno Chennai Office Russian crude oil, once a niche component of India’s energy mix, has transitioned into a cornerstone of its import basket since around the time when Russia launched its full scale invasion of Ukraine in 2022.