Russia’s flagship Urals crude has reportedly reached record prices in India, reflecting strong demand from one of the world’s fastest-growing energy markets. Some reports suggest Russian oil shipments to India are trading close to $98 per barrel, including freight and shipping costs.

The surge comes amid shifting global oil flows following the Russia–Ukraine War, which reshaped energy trade routes and pushed Moscow to expand exports to Asian markets.

Russia’s Urals Crude Hits Record In India 

Russia has rejected US claims that India will halt Russian oil imports under a trade deal, saying it sees no shift in New Delhi’s position. Moscow dismissed remarks by President Donald Trump and Secretary of State Marco Rubio as baseless.

Moscow blasts US claim India will ditch Russian oil, says Trump trying to 'grab right to dictate to independent nations'

A Russian oil tanker carrying 730,000 barrels of crude to India makes a sudden U-turn in the Baltic Sea after new US sanctions on Rosneft and Lukoil.

Russian oil tanker enroute to India reversed course, trade disruption because of sanctions?

Trump repeated his claim even after India’s Ministry of External Affairs (MEA) spokesperson had denied his earlier remark and clarified that there was “no conversation” between PM Narendra Modi and the US President on the matter on the specified day.

Donald Trump reiterates his claim, says India will stop buying Russian oil

When Russia invaded Ukraine in February 2022, Russian oil accounted for less than two percent of Indias imports. Today, Russia supplies approximately one-third of Indias total oil requirements. 

Not for Sale: India Rejects Trump's Command on Russian Oil

Russia on Thursday pushed back at Donald Trump’s claim that India would soon stop buying Russian oil, saying the supplies were “very beneficial for the Indian economy.” 

Russia defends oil exports to India after Trump’s claim, says supplies ‘benefit Indian economy’. Watch

Did Modi promise US that India will no longer buy Russian oil? Here's what Trump claims