Russian Oil Import: India is the second largest buyer of Russian oil! Tremendous surge in imports

New Delhi. India is set to become the world’s second-largest buyer of Russian fossil fuels in May 2026. According to the report of the European research institute Center for Research on Energy and Clean Air (CREA), the total imports of crude oil and other fuels from Russia have increased to an estimated 5.8 billion euros (about 6.7 billion dollars) due to increased purchases by Indian refineries.

According to the report, the share of crude oil in India’s total imports from Russia in May was about 83 percent, which was worth 4.8 billion euros. Apart from this, import of oil products and coal stood at 550 million Euros and 429 million Euros respectively. CREA said India’s total crude oil imports in May registered an eight percent month-on-month increase, a major reason for which was a 21 percent increase in imports from Russia. A significant increase in the arrival of Russian crude oil was recorded in the country’s major refining centers located in Gujarat.

The Vadinar refinery loaded 36 percent more Russian oil compared to April, while the increase was 14 percent at the Jamnagar refining complex. According to the report, public sector refinery companies have also increased purchases after resuming imports earlier this year. New Mangalore and Visakhapatnam refineries, which had stopped importing Russian oil at the end of November 2025, had resumed purchases from March.

Russian oil supplies to the New Mangalore Refinery rose 13 per cent month-on-month in May, while the supply to the Visakhapatnam Refinery increased by 42 per cent. Paradip Refinery located in Odisha has also unloaded the highest quantity of Russian crude oil in the last two years. This indicates that Russian oil, available at concessional rates, remains attractive to Indian refinery units despite geopolitical and sanctions related pressures.

Global energy trade was disrupted by Western sanctions and trade sanctions following Russia’s invasion of Ukraine. After this, India became one of the major buyers of Russian oil. Indian refineries have increased purchases of discounted Russian oil to reduce energy costs while also supporting refining margins and exports of petroleum products.

According to the report, China’s share in Russia’s crude oil exports in May was 50 percent, while India stood second with 36 percent share. This was followed by Turkey (six percent) and the European Union (five percent).