India's crude oil imports have decreased in March due to disruptions in the Strait of Hormuz, leading Indian refiners to pivot towards Russia and African producers, with Russia emerging as the largest supplier.

Kremlin spokesman Dmitry Peskov's comments came hours after U.S. Treasury Secretary Scott Bessent said that Washington has issued a temporary 30-day waiver to allow Indian refiners to purchase Russian oil

Sources indicate that Indian refiners are acquiring Russian oil that is currently floating offshore, navigating international sanctions.

Indian refiners have purchased 30 million barrels of Russian oil following a US waiver, to address supply disruptions amid the ongoing conflict in West Asia.

Shipping data compiled by Bloomberg shows that roughly 15 million barrels of Russian oil are currently held on tankers in the Arabian Sea and the Bay of Bengal. In addition, vessels carrying about 7 million barrels are anchored near Singapore.

US issues 30-day waiver to allow Indian refiners to buy Russian oil; IDF says it is striking Dahiya neighborhood in southern suburbs of Beirut Tell us: how have you been affected by the latest…

Indian Refiners Eye Russian Oil Again as Iran Crisis Hits Supply  Bloomberg

Indian refiners have begun negotiating for additional crude cargoes from the U.S., Russia and West Africa to ensure supplies remain adequate; refineries, which convert crude oil into fuels like petrol and diesel, have deferred planned maintenance shutdowns and are maintaining normal processing rates to create buffers

Exclusive: Indian refiners buying prompt Russian oil as Iran war hits supplies, sources say  Reuters

Russia is reportedly planning to increase its Urals oil exports to China, as Indian refiners reduce their purchases.