Amidst the stir in the Middle East, there is a huge jump in the procurement of Indian companies from Russia. According to the data analytics firm Capler, Russia sold its crude oil (Ural grade) as much as this year, 80% of it has been bought by India. Most of the Urals were bought by two private companies of India, Reliance Industries and Naira Energy.
According to Bloomberg report, Reliance Industries and Naira Energy have bought 45% of imported Ural crude in the country. India has bought 23.1 million barrels of Ural crude this year. It has been reported in the report that both Reliance and Naira have seen a huge increase in 2025 in Russia oil procurement.
Oil market experts believe that India is making indiscriminate purchases of crude oil from Russia in view of instability in the middle-east. During the battle of Iran-Israel, the instability over oil had increased further. On Sunday, the US attacked three Iran’s nuclear plants Natanj, Fordo and Isfahan, which threatened to shut down the hormuz waterway.
Through this waterway, Middle East oil reaches countries like India and China. Through this shipping route, at least 20% of the global oil supply passes. Analysts said that if this waterway is closed then oil prices can go above $ 100 per barrel.
At the same time, the Government of India said that even if the hormuage waterway is closed, it will be able to reduce its effects.
This Indian company is the biggest buyer of Russian oil
According to the report, Reliance Industries has become the world’s largest buyer this year who bought 7.7 million barrels of Ural Crude in 2025. In December 2024, Reliance signed a ten -year compromise for crude oil (BPD) crude oil with Russia veteran oil company Rosneft, priced at around $ 13 billion annually. This is the biggest deal of energy between India and Russia so far.
At the same time, Talking about Naira Energy, Russia is also a part of this company. In 2017, Rosneft Group, along with several Russian companies, bought a 98% stake in Essar Oil in India for $ 12.9 billion. The company was later reorganized as Naira Energy, in which Rosneft stakes 49.13%. Bloomberg said about 72% of its oil imports come from Russia. Three years ago this share was just 27%.
In fact, before February 2022 i.e. Russia-Ukraine used to buy raw oil from Russia, but after the war started, Russia, facing the Western ban, offered crude oil to India at concessional rates. Since then, India started purchasing crude oil from Russia and soon Russia became the largest crude oil supplier in India and is still India’s largest crude oil supplier.
The news agency Reuters cited Capler data, stating that in May, India’s import of Russian crude oil reached around 18 million barrels per day, which is the highest in the last ten months.