India Refiners Surge in Russian Oil Purchases, Solidifying Position as Key Global Buyer Amid Sanctions Pressure

India Refiners Surge in Russian Oil Purchases, Solidifying Position as Key Global Buyer Amid Sanctions Pressure​

India has dramatically boosted its procurement of Russian fossil fuels, emerging as one of the world's preeminent buyers following trade restrictions reshaped global energy flows. The Centre for Research on Energy and Clean Air (CREA) reported that India imported an estimated €5.8 billion (USD 6.7 billion) worth of Russian hydrocarbons in May, with refiners spearheading the expanded purchases from Moscow.

Crude oil accounted for a significant portion of these imports, valued at €4.8 billion or about 83 percent of the total intake. The procurement also included €550 million in oil products and €429 million worth of coal. This expansion is underscored by an 8 per cent month-on-month increase recorded in India's crude import volumes, driven partly by a 21 per cent rise in Russian imports.

Indian Refineries Drive Massive Increase in Russian Crude Arrivals​

The surge in procurement is highly localized among major refining hubs across India. Several domestic refineries reported substantial increases in their deliveries of Russian crude. The Vadinar refinery in Gujarat saw its unloaded volumes jump by 36 percent from April levels. Similarly, the Jamnagar refining complex in the state recorded a 14 per cent increase in deliveries.

State-run refiners also resumed and expanded their purchases after previously halting imports. New Mangalore and Visakhapatnam refineries recommenced buying Russian oil in March. Deliveries to New Mangalore rose 13 percent month-on-month, while imports at Visakhapatnam surged by 42 percent. The continued appeal of discounted Russian barrels was further highlighted by the Paradip refinery, which unloaded its highest volume of Russian crude in two years.

Global Demand Dynamics and Market Share​

Following Western sanctions, Russia's market share has been significantly reshaped globally. Among the top five importers, China remained the largest global buyer of Russian fossil fuels in May 2026, accounting for 38 percent (Euro 7.0 billion) of the total export revenues. India holds a strong second position, purchasing at 36 percent. Turkiye secured 6 percent of exports, with the EU making up 5 percent.

China's purchases included Crude oil at 69 percent (Euro 4.8 bn), followed by pipeline gas (Euro 618 million), coal (Euro 525 million), and LNG (Euro 510 million). This data reflects the diversified global supply flows, even as India continues to diversify supplies from the Middle East, Africa, and the U.S.

Refineries Exporting Processed Goods to Sanctioning Countries​

Refining operations in nations using Russian crude are facilitating exports to sanctioning countries. Refineries based in India, Turkiye, Brunei, and Georgia collectively exported €641 million worth of oil products to these nations in May 2026. The EU (€174 million), Australia (€275 million), the US (€147 million), and New Zealand (€45 million) were among the key importers.

An estimated €214 million of these exported products were refined from Russian crude. The demand from the United States was specifically noted to be met by refineries including Reliance Industries Ltd's Jamnagar refinery, the SOCAR-owned STAR facility in Turkiye, and the Tupras Izmit refinery. Both the Jamnagar and STAR refineries reported that a significant portion of their feedstock derived from Russia in the prior three months.