Russia is intensifying its energy cooperation with India, aiming to expand exports of oil, coal, and liquefied natural gas (LNG) as Western sanctions continue to reshape global trade dynamics. Russian Energy Minister Sergey Tsivilev confirmed on Monday that Moscow is developing new agreements to bolster bilateral energy collaboration.
“India remains one of our key partners,” Tsivilev stated. “In 2024, a significant share of our oil exports went to India, and supplies remain at a high level this year. To enhance the reliability of transportation, we are developing a Russian-Indian intergovernmental agreement to expand cooperation in the supply of oil and petroleum products by sea.”
Russia is prepared to offer India LNG from both current and future projects, aligning with India’s goal to raise the share of gas in its energy mix to 15%. Beyond oil and gas, Moscow plans to boost coal exports to India to 40 million tons by 2035, up from 26.2 million tons in 2023, according to official data.
The renewed energy push comes as the United States and the European Union tighten sanctions on Russia’s energy giants, including Rosneft and Lukoil. These companies have played a pivotal role in supplying crude to both India and China. Despite these restrictions, Indian refiners—such as Reliance Industries—have indicated they will adapt operations to maintain energy security while reviewing the potential impacts of sanctions.
Russia’s crude oil shipments to India have surged dramatically, reaching around 1.7 million barrels per day in 2024, a substantial rise from just 50,000 bpd in 2020. New Delhi continues to emphasize that its energy trade decisions are based on market conditions and national interests rather than geopolitical pressure.
