India’s oil import bill faces fresh pressure after the US Congress cleared legislation authorising tariffs of up to 100% on major buyers of Russian energy, threatening access to a crucial supply source as the Indian crude basket touched $126.88 per barrel on September 16. With Gulf supplies disrupted and alternative cargoes costing $130-140 per barrel, replacing Russian oil could prove challenging for refiners. India imported Russian crude worth $28.32 billion in FY27 through July, accounting for nearly 45% of its total crude import bill of $63.32 billion, according to commerce ministry data. In FY26, Russian imports stood at $40.823 billion, representing 30% of the country’s $134.71-billion crude imports.