India-Russia LNG Trade Restart

planned

India and Russia are preparing to restart direct sales of liquefied natural gas (LNG) for the first time since the Ukraine war. This move is part of deepening energy ties amid rising global prices triggered by the closure of the Strait of Hormuz due to the Iran-US-Israel war. A verbal understanding to begin negotiations was reached during a March 19 meeting in Delhi between Russian Deputy Energy Minister Pavel Sorokin and India’s Petroleum Minister Hardeep Singh Puri. Talks could be concluded within weeks if India proceeds, although the deal risks breaching Western sanctions. The two sides also agreed to increase crude oil supplies, which could rise to at least 40% of India’s total imports within a month.