India is purchasing record volumes of Russian oil ahead of the expiration of a US licence that currently permits such imports.

According to data from analytics company Kpler, daily oil imports into India reached 2.3 million barrels in May, as the US authorisation still allows the delivery of Russian crude that had already been shipped, The Caspian Post reports, citing Bloomberg.

Analysts believe the figure could average 1.9 million barrels per day throughout the month.

Russia regained its position as India’s largest oil supplier in March 2026, with exports reaching 2 million barrels per day - the highest level recorded since June 2025.

Saudi Arabia ranked second among suppliers to India with 606,000 barrels per day, while Angola came third with 330,000 barrels per day.

India’s total crude oil imports in March declined to 4.49 million barrels per day.

Meanwhile, China’s crude oil imports also decreased, falling from 12.51 million barrels per day in February to 11.76 million barrels per day in March.

Russia remained China’s largest supplier with a 20% share of imports, followed by Saudi Arabia with 12% and Malaysia with 11%.