Ukraine's recent drone strikes on Russian oil-export hubs in the Baltic and Black seas pose a significant risk to India's crude supply chain, as highlighted by the International Energy Agency (IEA). These attacks target three key ports—Primorsk, Ust-Luga, and Novorossiysk—through which 80% of Russia's crude exports to India are channeled. The IEA warns that any extended disruption at these ports could severely impact Indian refining operations. As geopolitical tensions rise, India has increasingly relied on discounted Russian oil, which has become central to its energy strategy following Western sanctions against Moscow. In March 2023, India's imports of Russian crude reached an average of 1.98 million barrels per day, the highest since June 2023, with 12 Indian refineries processing Russian oil, up from seven in February. This heightened dependence on Russian crude comes amid global supply volatility and constrained alternative sourcing options, such as from Iran. Additionally, a 30-day U.S. waiver that permitted continued purchases of Russian oil expired on April 11, further complicating India's oil procurement strategy. The IEA's report underscores the vulnerabilities in India's oil supply chain, which may face tighter feedstock availability and increased pressure on refining margins in the near future.