India becomes second-largest buyer of Russian crude in May: CREA report

India emerged as the world’s second-largest importer of Russian fossil fuels in May, purchasing hydrocarbons worth an estimated 5.8 billion euros (USD 6.7 billion), according to a report by the Centre for Research on Energy and Clean Air (CREA).

The report said crude oil accounted for the bulk of India’s imports from Russia, making up nearly 83% of the total at around 4.8 billion euros. Oil products worth 550 million euros and coal imports worth 429 million euros made up the remaining share.

CREA noted that India’s overall crude oil import volumes increased by 8% in May compared with the previous month, with Russian crude imports rising by 21% during the same period, The New Indian Express reported.

Several Indian refineries recorded higher inflows of Russian crude. The Vadinar refinery in Gujarat saw a 36% month-on-month increase in unloaded Russian crude, while the Jamnagar refining complex recorded a 14% rise.

Public sector refineries also resumed and expanded purchases of Russian crude after restarting imports earlier this year. The New Mangalore and Visakhapatnam refineries, which had halted Russian purchases in late 2025, resumed procurement in March and continued through May. Russian crude intake at New Mangalore rose 13%, while Visakhapatnam recorded a 42% increase, according to CREA. The Paradip refinery in Odisha also reported its highest Russian crude volumes in two years.

India has become one of the biggest buyers of Russian oil since Western sanctions following the Ukraine conflict reshaped global energy markets. Indian refiners have increased purchases of discounted Russian crude to manage import costs, improve refining margins and support fuel exports.

Despite efforts to diversify supplies through purchases from the Middle East, Africa and the US, Russian crude continues to account for a significant portion of India’s energy imports.

CREA data showed that China remained the largest importer of Russian crude in May, accounting for 50% of exports, followed by India with 36%, Türkiye with 6% and the European Union with 5%.

The report also highlighted that Russian-linked refined products continued to reach countries that have imposed sanctions. Although the European Union banned imports of oil products made from Russian crude from January 2026, CREA said it still received 10 shipments of such products in May.

According to the report, refineries using Russian crude in India, Türkiye, Brunei and Georgia exported oil products worth 641 million euros to sanctioning countries during the month. These exports went to the EU, Australia, the US and New Zealand, with an estimated 214 million euros worth of products derived from Russian crude.

CREA said some US-bound exports originated from Reliance Industries’ Jamnagar refinery, the SOCAR-owned STAR refinery in Türkiye and the Tupras Izmit refinery. The report noted that Russian crude accounted for a significant share of feedstock at some of these facilities in recent months.