Russia ready to boost oil supplies to India, China as Strait of Hormuz tensions rise

Deputy Prime Minister Alexander Novak said on Wednesday that Russia is prepared to increase oil supplies to China and India, offering a potential buffer amid rising tensions in the Strait of Hormuz, Interfax news agency reported.

Russia already retained its position as India’s largest crude supplier in February, even as Saudi Arabia narrowed the gap with record shipments. Data from Kpler showed Russian imports at just over 1 mbd in February, slightly down from 1.1 mbd in January, while Saudi Arabia ramped up volumes by nearly 30% month-on-month to over 1 mbd.

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The announcement comes as Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed full control over the strategic waterway, a critical chokepoint for global oil and gas shipments. “Currently, the Strait of Hormuz is under the complete control of the Islamic Republic's Navy,” Guards Navy official Mohammad Akbarzadeh told Fars news agency, warning that vessels attempting to transit the passage could face risks, including missiles or stray drones.

The developments follow US President Donald Trump’s statement on Tuesday that the US Navy stands ready to escort oil tankers through the corridor, signalling Washington’s commitment to maintaining freedom of navigation amid escalating hostilities.

Nearly 2.5–2.7 million barrels per day (mbd) of India’s crude imports pass through the Strait of Hormuz, primarily from Iraq, Saudi Arabia, the UAE, and Kuwait. Ongoing military strikes in the region have disrupted cargo movement, prompting Indian refiners to scout alternative sources.