India's crude imports from Russia have reached pre-sanction levels, though yuan-based payments risk bolstering China's currency. This concentration on a single source, coupled with a $46/ton premium and geopolitical volatility in the Gulf and Venezuela, poses significant risks to India's energy security and refiner margins. The article highlights a departure from a diversified strategy, potentially eroding India's bargaining power and international credibility. It suggests balancing long-term contracts with spot purchases and expanding strategic petroleum reserves. India's inconsistent approach to Russian oil imports raises concerns about its strategic autonomy and potential diplomatic costs.