India’s Surging Russian Oil Imports: Powered by Asia’s Richest Man

Former US President Donald Trump imposed an extra 25% tariff on India’s Russian oil imports, accusing New Delhi of funding Moscow’s war in Ukraine. Reliance Industries (RIL), led by Mukesh Ambani, has emerged as India’s largest Russian oil importer, with Russian crude rising from 3% of Jamnagar refinery’s intake in 2021 to 50% in 2025. Exports from Jamnagar, worth $85.9bn since 2023, include $36bn to sanctioning nations, notably the EU and US. Nayara Energy is the second-biggest importer. Analysts argue India benefits from cheaper oil and non-alignment, while critics call Trump’s tariffs political, as China remains untouched.