New Delhi, Jan. 27 -- For much of last year, discounted Russian oil made up the lion's share of Indian purchases, a financial lifeline for Moscow that also shaved billions off New Delhi's import bill. Then came US threats, tariffs, sanctions - and months of disruption.

But against the expectations of many in the market, those Russian flows have proved remarkably resilient. With discounts widening and a US trade deal still elusive, the new normal could include significant purchases well into 2026.

The world has "become more challenging, in spite of the fact there is no shortage of energy globally," Indian Oil Minister Hardeep Puri said on Friday, at an event marking the country's most high-profile gathering of energy officials, to be hel...