India remained the world’s second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros (US$6.7 billion) worth of Russian hydrocarbons as refiners increased purchases of discounted crude from Moscow, according to a report by the Center for Research on Energy and Clean Air (CREA).Crude oil accounted for the largest share of India’s imports from Russia during the month, accounting for about 83 per cent of the total Euro 4.8 billion. According to PTI report, the value of oil product imports stood at 550 million euros, while coal imports stood at 429 million euros.“India’s total crude import volumes recorded an 8 per cent month-on-month increase in May. This is partly explained by a 21 per cent month-on-month increase in Russian imports,” CREA said in its report.Russian crude oil arrivals increasedMany of India’s largest refining hubs reported an increase in Russian crude oil arrivals during the month. According to CREA, unloaded volumes at the Vadinar refinery in Gujarat rose 36 per cent compared to April, while deliveries at the Jamnagar refining complex rose 14 per cent.State-run refiners also expanded buying after resuming imports earlier this year. New Mangalore and Visakhapatnam refineries, which had halted imports of Russian crude till the end of November 2025, continued to buy Russian oil after resuming purchases in March.Russian crude oil deliveries to New Mangalore rose 13 per cent month-on-month in May, while imports to Visakhapatnam rose 42 per cent, the report said.The Paradip refinery in Odisha also unloaded the highest volume of Russian crude in two years, highlighting the continued appeal of discounted Russian oil for Indian refiners despite geopolitical and sanctions-related pressures.Russia remains the major supplierIndia emerged as one of the biggest buyers of Russian crude after Western sanctions and trade restrictions following Moscow’s invasion of Ukraine reshaped global energy markets.The latest data indicates that Russian oil holds a significant share in India’s crude import basket, even as New Delhi diversifies supplies from the Middle East, Africa and the United States.According to CREA, China was the largest buyer of Russian crude oil exports in May, accounting for 50 percent of shipments, followed by India with 36 percent. Turkey’s share was 6 percent and the European Union’s 5 percent.“In May 2026, China remained the largest global buyer of Russian fossil fuels, accounting for 38 percent (EUR 7.0 billion) of Russia’s export revenues from the top five importers,” the report said.Products are still arriving in approved countriesCREA also noted that despite an EU ban on imports of oil products made from Russian crude, many shipments from refineries processing Russian oil continued to reach sanctioning countries.“Refineries in India, Turkey, Brunei and Georgia using Russian crude exported oil products worth 641 million euros to sanctioned countries in May 2026. Importers include the EU (174 million euros), Australia (275 million euros), the US (147 million euros) and New Zealand (45 million euros). These products, worth an estimated €214 million, were refined from Russian crude,” it said.Exports to the United States came from Reliance Industries’ Jamnagar refinery, Turkiye’s Star Refinery and Tupras Izmit refinery, the report said.“In the first three months, 39 per cent of Star Refinery’s crude oil feedstock and 15 per cent of Jamnagar Refinery’s feedstock came from Russia,” CREA said.
