India Increases Saudi Oil Imports While Trade and Oil Purchases from Iran Decline

India's crude oil imports from Saudi Arabia reached a record 1.05 million barrels per day in February as the country reduced purchases from Russia, whose share declined to 20 percent amid US sanctions. Concurrently, India's trade with Iran has sharply declined since 2018 due to US sanctions, with oil imports from Iran nearly ceasing and overall trade contracting by over 50 percent. These shifts have increased India's reliance on Gulf suppliers, raising concerns about energy security amid regional tensions.