According to trade data shared with Reuters, India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day from January to June this year, up 1 per cent from one year ago. In total, it imported Russian oil worth about £38bn in the financial year ending March 2025.

Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.