India to Diversify Energy Basket by 2026, Maintaining Russian Crude Imports
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India to Diversify Energy Basket by 2026, Maintaining Russian Crude Imports

India plans to diversify its energy sources by 2026, focusing on increasing imports from the US and Atlantic basin suppliers to add flexibility, rather than disengaging from Russian crude. While India can substitute Russian oil with Middle Eastern sources, it incurs higher costs. New Russian suppliers and opaque trading entities are emerging following US sanctions, with Indian refiners seeking non-sanctioned Russian producers. Upcoming refinery expansions are expected to increase India's overall crude import needs.

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