In June, India purchases of Russian crude reach a record high, rising even as Russia’s oil export revenues slip. According to a report cited by multiple outlets, India buys Russian crude worth about EUR 4.5 billion in June, which makes up 83% of India’s total Russian fossil fuel imports of around EUR 5.5 billion. This places India as the second-largest buyer of Russian hydrocarbons after China.
The same reporting says India’s Russian crude imports increase sharply, up about 34% month-on-month, and that India’s overall crude imports rise around 5.4% during the same period. The pickup is linked to higher Russian supply volumes to several major Indian refineries. Shipments to Reliance Industries’ Jamnagar refinery reportedly jump 150% from May, while imports at Indian Oil Corp’s Paradip refinery rise 126%. BPCL’s Kochi refinery and Nayara Energy’s Vadinar refinery also see large gains, with increases reported at 83% and 45%, respectively.
Overall, the outlets describe a continued shift toward Russian supplies for India’s refining needs despite weaker revenue performance on Russia’s side.
