India’s crude oil imports from Russia surged to a record 2.8 million barrels per day (bpd) in July 2026, accounting for around 55.5% of the country’s total crude imports, as Indian refiners continued to rely heavily on discounted Russian supplies despite tighter Western sanctions.
According to data compiled by the Centre for Research on Energy and Clean Air (CREA), India imported €5.5 billion worth of Russian crude during July, with crude accounting for 87% of the country’s total Russian fossil fuel purchases. India was the second-largest buyer of Russian fossil fuels during the month, importing €6.4 billion worth of Russian hydrocarbons.
Coal imports from Russia were valued at €512 million, while oil products accounted for another €341 million.
India’s dependence on Russian crude has risen sharply since the Russia-Ukraine war began in February 2022. Russian supplies, which were below 100,000 bpd before the war, increased to around 740,000 bpd in 2022 and nearly 1.8 million bpd in 2023. Russia subsequently became India’s largest crude supplier.
The July surge was driven largely by higher receipts at smaller Indian terminals rather than the country’s biggest crude-handling facilities. Imports through HMEL Mundra increased 58% from June, while volumes at Indian Oil’s Vadinar SMPL terminal rose 35%. Mumbai also recorded a 37% increase.
Jamnagar volumes remained broadly stable, while imports through Paradip declined 22%.
Despite continued purchases, the price advantage of Russian crude has narrowed. CREA estimated that Urals crude averaged $60.22 a barrel in July, down 3% from June but still above the $44.10-a-barrel G7 and EU price cap introduced in February 2026.
India has also emerged as an important refining hub for Russian crude. Refineries in India, Türkiye, Brunei and Georgia that process Russian crude exported €633 million worth of petroleum products to countries imposing sanctions on Russia in July, according to CREA.
Indian refineries accounted for a significant portion of these shipments, including exports to the European Union, Australia and the United States. CREA identified five cargoes from Indian refineries using Russian crude that were unloaded at EU ports during July.
India now accounts for around 37% of Russia’s crude oil exports covered by CREA’s analysis, behind China at 50%.
The sharp rise in Indian crude purchases comes as Russia’s refined-product exports weaken. Russian oil-product loadings fell 23% in July to 4.7 million tonnes, their lowest level on record and less than half the 9.6 million tonnes recorded in July 2025.
The trend underscores the growing importance of India as a major destination for Russian crude and highlights the continued role of Russian barrels in supporting India’s large refining sector and energy security.
