India has been purchasing oil at a discount from Russia after Western nations imposed sanctions on Russia because of its invasion of Ukraine. The move has made Russia become the biggest supplier to India, which is the third-largest oil importer in the world.

The data showed that the share of oil from Russia, Kazakhstan, and Azerbaijan to India was 39% in the fiscal year of 2023/24, increasing from 26% a year ago. On the contrary, the share of Middle Eastern oil to India dropped to a historic low of 46% from 55%.