India’s Russian Crude Imports Hit Record in June
New Delhi: According to a report prepared by the Center for Research on Energy and Clean Air (CREA), India’s imports of Russian crude oil reached a record high in June, increasing by 34 percent compared to the previous month, despite the decline in Russia’s overall oil export revenues. The report stated that India purchased Russian crude oil worth 4.5 billion euros in June, accounting for 83 percent of Russia’s total fossil fuel imports of 5.5 billion euros and becoming the second largest buyer of Russian hydrocarbons after China.
The sharp increase came as India’s overall crude imports rose 5.4 percent month-on-month and Russia’s supplies to major refineries recorded large increases. Deliveries to Reliance Industries’ Jamnagar refinery increased by 150 percent compared to May, while imports to Indian Oil Corp’s Paradip refinery increased by 126 percent. CREA said BPCL’s Kochi refinery and Nayara Energy’s Vadinar refinery recorded an increase of 83 per cent and 45 per cent respectively.
While the increase in purchases from India helped Russia’s crude oil export volume increase by 14 percent in June, crude oil export revenues fell by 8 percent monthly to 348 million euros per day due to low prices. The report stated that overall, Russia’s fossil fuel export revenues decreased by 1 percent to 734 million euros per day, despite a 7 percent increase in export volumes.
“India was the second largest buyer of fossil fuels from Russia in June 2026, importing a total of EUR 5.5 billion of Russian hydrocarbons. Crude oil constituted 83 percent of India’s purchases, totaling EUR 4.5 billion. The remainder of monthly imports from Russia were petroleum products (EUR 488 million) and coal (EUR 444 million),” CREA said.
India continued to play an important role in the global trade flow of refined fuels produced from Russian crude oil. Refineries in India, Turkey, Brunei and Georgia exported oil products worth 814 million euros in June to countries that imposed sanctions on Russia, including the European Union, Australia and the United States. It was stated that an estimated 369 million Euros of these exports were refined from Russian crude oil.
The report stated that despite the European Union banning the import of petroleum products made from Russian crude oil, two shipments using Russian crude oil from Indian refineries were unloaded at EU ports in June. It was also stated that the United Kingdom received its first cargo of jet fuel from Jamnagar after allowing the import of diesel and jet fuel refined from Russian crude oil within the scope of the exemption.
“In June 2026, following the UK Government’s exemption allowing the import of diesel and jet fuel refined from Russian crude oil, the UK unloaded the first shipment of jet fuel produced at India’s Jamnagar refinery. The cargo, worth approximately €63 million, was unloaded at the ports of Thames Haven and Grain Island,” the statement said.
Jamnagar refineries are owned and operated by Reliance Industries Ltd.
The statement said, “Exports to the USA originate from the Jamnagar Refinery in India, SOCAR’s STAR Refinery in Türkiye and the Tüpraş Izmit Refinery. In the past three months, 60 percent of the crude oil of the Tüpraş Izmit Refinery and 27 percent of the raw materials of the Jamnagar Refinery came from Russia.”
CREA stated that China continued to be Russia’s largest fossil fuel customer with a purchase of 7.3 billion Euros in June, while India ranked second with 5.5 billion Euros.
The report also emphasized that Russia’s oil exports remain dependent on the so-called “shadow fleet”; In June, 54 percent of Russia’s seaborne oil was carried by sanctioned shadow tankers, while another 43 percent was carried by G7 insured or owned ships.
