India’s Russian Oil Imports Hit Highest Level of 2026

DID Press: India’s imports of Russian crude oil climbed to their highest level of 2026 in June, reaching 2.73 million barrels per day, up sharply from 2.14 million barrels per day in May.

According to data from the Centre for Research on Energy and Clean Air (CREA), the value of India’s Russian oil imports increased by 34 percent month-on-month to $5.14 billion in June. India remains Russia’s second-largest buyer of hydrocarbons after China.

Analysts attribute the increase to U.S. policy exemptions aimed at facilitating energy supplies amid heightened regional tensions, particularly those linked to the Iran crisis.

The report shows that the strongest growth in imports came from major Indian refineries, with deliveries to the Jamnagar refinery rising by 150 percent, Paradip by 126 percent, Kochi by 83 percent, and Vadinar by 45 percent.

Despite a 14 percent increase in Russia’s crude oil export volumes in June, lower global oil prices reduced the country’s daily oil export revenues by 8 percent to $397.3 million.

The report also notes that more than half of Russia’s seaborne oil exports continue to be transported by the so-called “shadow fleet” and tankers operating under international sanctions.

Analysts say the future of this trend will largely depend on geopolitical developments and U.S. sanctions policy. They note that if regional tensions ease and Washington tightens sanctions on Moscow again, India could reduce purchases of Russian crude and increase imports from traditional suppliers such as Iraq.