India’s Russian Crude Imports Rise Despite International Sanctions
(MENAFN) India’s crude oil imports from Russia rose in October compared with the previous month, media reported on Monday, citing preliminary data from analytics firms Kpler and OilX.
Kpler estimated India’s Russian crude imports at roughly 1.48 million barrels per day (bpd) in October, up from 1.44 million bpd in September. OilX reported similar figures, noting 1.48 million bpd in October and 1.43 million bpd in September. The data do not include Kazakh-origin oil exported via Russia, the news agency added.
The increase comes amid escalating international sanctions on Moscow. The US imposed penalties on Russian oil giants Rosneft and Lukoil and their subsidiaries in late October. Around the same time, the European Union implemented its 19th sanctions package, targeting more than 117 vessels from what Brussels calls a Russian “shadow fleet,” along with additional individuals and entities.
Earlier this year, US President Donald Trump levied a 25% punitive tariff on India, citing New Delhi’s purchases of Russian oil as the rationale. This was on top of an existing 25% levy imposed during 'Liberation Day,' when the two countries failed to reach a trade agreement. Trump accused India and China of “contributing to the Ukraine conflict by buying Russian crude.”
India is currently evaluating the impact of the latest sanctions on Russian oil majors Rosneft and Lukoil. “New Delhi is analyzing the effects of new sanctions on Russian oil majors Rosneft and Lukoil and will act based on how the situation develops,” Foreign Ministry spokesman Randhir Jaiswal said on Thursday.
Media also reported that India’s private refiner Reliance has purchased millions of barrels from spot markets since the US sanctions were introduced.
As the world’s third-largest oil consumer, India has sharply increased imports from Russia since 2022. By September, Russia accounted for 34% of India’s total crude imports, according to Kpler data.
In response to sanctions, major Indian refiners have temporarily paused new orders, instead turning to spot markets. Other firms, such as the state-backed Indian Oil Corporation, say they will continue purchasing from Russian producers not subject to sanctions.
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