India’s Russian oil imports rise sharply in May as refiners boost crude purchases

India remained the worlds secondlargest buyer of Russian fossil fuels in May importing an estimated 58 billion euros USD 67 billion worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow European think tank Centre for Research on Energy and Clean Air CREA said in a reportCrude oil accounted for about 83 per cent of Indias imports from Russia during the month valued at 48 billion euros while oil products and coal imports stood at 550 million euros and 429 million euros respectivelyIndias total crude import volumes recorded an 8 per cent monthonmonth increase in May This is partially explained by a 21 per cent monthonmonth increase in Russian imports CREA saidSome of Indias largest refining hubs recorded notable increases in Russian crude arrivals Unloaded volumes at the Vadinar refinery in Gujarat rose 36 per cent from April levels while deliveries to the Jamnagar refining complex in the state increased 14 per centAccording to CREA staterun refiners also expanded purchases after resuming imports earlier this year The New Mangalore and Visakhapatnam refineries which had halted Russian crude imports at the end of November 2025 continued buying Russian oil after restarting purchases in MarchRussian crude deliveries to New Mangalore rose 13 per cent monthonmonth in May while imports at Visakhapatnam jumped 42 per cent it saidThe Paradip refinery on Odishas east coast also unloaded its highest volume of Russian crude in two years underscoring the continued attractiveness of discounted Russian barrels for Indian refiners despite evolving geopolitical and sanctionsrelated pressuresIndia emerged as one of the largest buyers of Russian oil since Western sanctions and trade restrictions reshaped global energy flows following Moscows invasion of Ukraine Indian refiners have consistently increased purchases of discounted Russian crude helping offset higher energy costs while boosting refining margins and exports of petroleum productsThe latest figures suggest Russian oil continues to account for a significant share of Indias crude import basket even as the country diversifies supplies from the Middle East Africa and the United StatesAccording to CREA China bought 50 per cent of Russias crude exports in May followed by India 36 per cent Turkiye 6 per cent and the EU 5 per centIn May 2026 China remained the largest global buyer of Russian fossil fuels accounting for 38 per cent Euro 70 billion of Russias export revenues from the top five importers Crude oil made up 69 per cent Euro 48 bn of Chinas purchases followed by pipeline gas Euro 618 million then coal Euro 525 million and lastly LNG Euro 510 million Oil products Euro 479 million constituted the remainder of Chinas imports it saidCREA said despite the EUs ban on imports of oil products made from Russian crude on January 21 2026 10 shipments of oil products from refineries using Russian crude were unloaded at EU ports in the month of MayRefineries using Russian crude in India Turkiye Brunei and Georgia exported Euro 641 million of oil products to sanctioning countries in May 2026 The importers included the EU Euro 174 million Australia Euro 275 million the US Euro 147 million and New Zealand Euro 45 million An estimated Euro 214 million of these products were refined from Russian crude it saidExports to the US originated at Reliance Industries Ltds Jamnagar refinery the SOCARowned STAR refinery in Turkiye and the Tupras Izmit refinery as well In the prior three months 39 per cent of the STAR refinerys crude oil feedstock and 15 per cent of the Jamnagar refinerys feedstock came from Russia it addedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever