India Remains a Major Buyer of Russian Oil

India continued its strong energy trade with Russia in May, emerging as the second-largest buyer of Russian crude oil during the month. According to a report by the Centre for Research on Energy and Clean Air (CREA), India purchased Russian fuel and coal worth €5.8 billion. Crude oil accounted for 83 percent of these imports, highlighting India's continued dependence on discounted Russian energy supplies.

The report stated that India imported petroleum products worth €429 million and coal worth €550 million from Russia during the month. Russian crude oil imports increased by 21 percent compared to April, with purchases by the Vadinar and Jamnagar refineries rising significantly. Public sector refineries, including those at New Mangalore and Visakhapatnam, also resumed and expanded Russian crude imports. Meanwhile, refined petroleum products processed from Russian crude in countries such as India, Türkiye, Brunei, and Georgia were exported to global markets, including Europe, Australia, the United States, and New Zealand. Reliance Industries' Jamnagar refinery was among the exporters supplying fuel to the United States.