India Remains 2nd-Largest Buyer of Russian Oil in May 2026: CREA Report

India increased its purchases of Russian crude oil in May, according to a report by the Centre for Research on Energy and Clean Air (CREA).  

The country imported Russian fossil fuels worth an estimated €5.8 billion (around $6.7 billion) during the month, making it the second-largest buyer globally after China. 

Crude oil remained the largest component of these imports, accounting for €4.8 billion, or nearly 83% of the total value. Imports of oil products were estimated at €550 million, while coal imports stood at €429 million. 

Indian Refiners Receive More Russian Cargoes 

CREA said India's overall crude oil import volumes increased 8% month-on-month in May. Russian crude imports rose at a faster pace, recording a 21% increase over April levels. 

Higher arrivals were reported at several refining hubs. The Vadinar refinery in Gujarat received 36% more Russian crude than the previous month, while deliveries to the Jamnagar refining complex increased by 14%.  

The Paradip refinery in Odisha also recorded its highest intake of Russian crude in the last 2 years. 

State-Owned Refineries Expand Buying 

State-run refiners continued buying Russian oil after restarting imports earlier this year. Russian crude deliveries to the New Mangalore refinery rose 13% in May compared with April, while imports at the Visakhapatnam refinery increased 42%, according to the report. 

CREA also said China accounted for 50% of Russia's crude exports in May, followed by India with 36%, Turkiye with 6% and the European Union with 5%.  

The figures show the continued presence of Russian crude in Asian markets despite sanctions and trade restrictions. 

Read More: Nitin Gadkari Approves E100 Fuel Regulations, Clears Path for Ethanol-Only Vehicles in India! 

Conclusion 

Data for May indicate an increase in Russian crude arrivals at Indian refineries, contributing to higher overall oil imports. Russian oil remained an important source of supply during the month. 

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