India remained the second-largest buyer of Russian fossil fuels in June 2026, with crude oil accounting for 83% of its total purchases, according to a CREA report.
Highlights
- India imported Russian fossil fuels worth EUR 5.5 billion in June 2026.
- Crude oil accounted for EUR 4.5 billion, or 83% of total imports.
- India’s crude imports from Russia rose as supplies to major refineries increased sharply.
- Reliance’s Jamnagar refinery recorded a 150% jump in Russian crude deliveries.
- Russia’s crude export volumes rose, but export revenues declined due to lower oil prices.
- India continued exporting refined fuels made from Russian crude to several countries, including sanctioned markets.
India significantly increased its purchases of Russian crude oil in June 2026, reinforcing its position as Russia’s second-largest fossil fuel customer after China, according to a report by the Centre for Research on Energy and Clean Air (CREA).
The report said India imported Russian fossil fuels worth EUR 5.5 billion during the month. Crude oil accounted for EUR 4.5 billion, representing 83% of the country’s total Russian fossil fuel imports. The remaining imports included oil products worth EUR 488 million and coal valued at EUR 444 million.
The increase came as India’s overall crude oil imports rose 5.4% month-on-month, with Russian supplies to several major refineries witnessing substantial growth. Deliveries to Reliance Industries’ Jamnagar refinery surged 150% compared with May. Imports at Indian Oil Corporation’s Paradip refinery increased 126%, while BPCL’s Kochi refinery and Nayara Energy’s Vadinar refinery recorded increases of 83% and 45%, respectively.
The stronger demand from India helped boost Russia’s crude export volumes by 14% during June. However, lower international oil prices reduced Russia’s crude export revenues by 8% month-on-month to EUR 348 million per day. Overall Russian fossil fuel export revenues slipped 1% to EUR 734 million per day, despite a 7% increase in export volumes.
The CREA report also highlighted India’s growing role in the global supply chain for refined petroleum products produced from Russian crude. Refineries in India, Türkiye, Brunei and Georgia exported oil products worth EUR 814 million to countries that have imposed sanctions on Russia, including the European Union, the United States and Australia. Of this, an estimated EUR 369 million worth of products had been refined from Russian crude.
The report noted that despite the European Union’s restrictions on imports of products refined from Russian crude, two shipments from Indian refineries using Russian crude were unloaded at EU ports in June.
In another significant development, the United Kingdom received its first shipment of jet fuel from Reliance Industries’ Jamnagar refinery after allowing imports of diesel and jet fuel refined from Russian crude under a government exemption. The cargo, valued at approximately EUR 63 million, was unloaded at Thames Haven and the Isle of Grain ports.
China remained Russia’s largest fossil fuel customer during June with imports worth EUR 7.3 billion, while India retained the second position with purchases valued at EUR 5.5 billion, underlining the country’s continued importance in Russia’s energy export market.
