economy
March 28, 2026
India, Russia Weigh LNG Deal Despite Western Sanctions
India and Russia are exploring a direct LNG deal and increasing crude oil sales despite Western sanctions, as Hormuz disruptions and Middle East conflict drive up energy prices.
TL;DR
- India and Russia are in discussions to resume direct sales of liquefied natural gas (LNG).
- A verbal agreement to negotiate an LNG deal was reached on March 19.
- This deal could potentially violate Western sanctions on Russian oil.
- The discussions are occurring amid surging energy prices due to the Middle East conflict and the blockade of the Strait of Hormuz.
- Increased crude oil sales from Russia to India are also being discussed, potentially doubling from January levels.
- India relies heavily on imports for oil and natural gas, with a significant portion routed through the Strait of Hormuz.
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