Since the Iran war, India has been purchasing the bulk of its crude oil from Russia. However, now India has once again turned to the Gulf countries. This move was made following Trump's threat.

Crude oil imports from Russia are decreasing

Since the war between Iran and the US began and crude oil imports were restricted, India had begun importing oil from Russia. However, India has now changed its stance on crude oil purchases and has once again turned to the Gulf countries.

In fact, for the first time since the Iran war began, India has purchased more crude oil from Gulf countries than from Russia. This is largely due to the resumption of oil supplies through the Strait of Hormuz and the competitive prices offered by Gulf countries.

According to Kpler data, India has been receiving an average of 2.1 million barrels of crude oil daily from Gulf countries
so far in November. Meanwhile, oil supplies from Russia have declined to around 1.8 million barrels per day. The Iran war severely disrupted oil movement through the Strait of Hormuz. In April, oil arriving in India through this route fell to just 247,000 barrels per day, compared to an average of 2.8 million barrels per day in February.

Supply from the Strait of Hormuz
has improved, with increased tanker traffic. Saudi Arabia, the United Arab Emirates (UAE), Iraq, and Kuwait together exported 15.53 million barrels of oil per day in October, a volume close to pre-war levels.

Why have Russian oil purchases decreased?
India has reduced its oil purchases from Russia because the cost of transporting Russian oil has increased. The Ukrainian attacks have impacted Russia's energy infrastructure and oil exports. Furthermore, bringing oil from Russia requires more time and expense. On the other hand, Gulf countries are offering better prices to Indian buyers. They are transferring oil from the Strait of Hormuz to other tankers at sea, helping to maintain supply.