India's Russian Crude Imports Hit Record High

India became the second-largest importer of Russian crude oil in June, purchasing Russian fuel and coal worth €5.5 billion, according to a report released by the Centre for Research on Energy and Clean Air (CREA). The report noted that India's imports increased by 34% compared with May, highlighting the country's continued reliance on discounted Russian energy supplies.

Crude oil accounted for 83% of India's total imports from Russia during the month. Meanwhile, India, Türkiye, Brunei, and Georgia exported refined petroleum products made from Russian crude worth nearly €814 million to global markets, including the United States and the European Union. Following the UK's exemption for imports of jet and diesel fuel refined from Russian crude, the Jamnagar refinery shipped its first jet fuel cargo to the United Kingdom.