Baghdad (IraqiNews.com) – Iraqi oil exports to India fell in the first half of 2026, as Indian refineries diversified their crude import sources to minimize the geopolitical risks associated with shipping via the Straits of Hormuz. According to officials at Indian refining companies and the Indian Ministry of Petroleum, the goal of this measure is to improve supply security. Iraqi oil remains a vital resource for India due to supply security and the high quality of Basra crude. Meanwhile, Russia remained India’s top crude oil supplier in the first half of the year, while imports from the UAE and Brazil increased. Indian refiners have warned that increased shipping risks and higher insurance costs, along with declining discounts on Russian oil, are affecting profit margins.