US SEEKS LARGER SHARE OF INDIA’S ENERGY MARKET AMID PRESSURE OVER RUSSIAN OIL

September 26, 2026

NEW DELHI: The United States is seeking to expand its share of India’s energy market as Washington presses New Delhi to reduce its dependence on Russian oil, a senior US State Department official said. The official said Washington wants the US to become a major source of India’s energy requirements and pointed to growing American hydrocarbon exports.

The comments came after US President Donald Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which authorises tariffs of up to 100 per cent on countries purchasing Russian oil and gas. India and China, among the largest buyers of Russian crude, could be affected by the legislation.

The US official said India had long sought to diversify its energy sources and highlighted American supplies of liquefied petroleum gas and liquefied natural gas. Washington is also seeking to expand access to Venezuelan energy supplies as alternative sources for countries reducing purchases from Russia.

India remains heavily dependent on imported crude oil. Russian oil continued to be the country's largest source in August, although imports from Russia fell by about 16.5 per cent from July to roughly 2.1 million barrels per day. Preliminary estimates indicate a further decline in September.

New Delhi has said its energy purchases are guided by national interest and the need to ensure energy security, while maintaining that it will continue sourcing supplies from diversified sources. The developments come as India and the US also negotiate broader trade arrangements amid growing pressure over New Delhi's purchases of Russian energy.