Russian oil trade: India slips to third-largest buyer in December

India fell to 3rd spot among buyers of Russian fossil fuels successful December 2025 aft crisp cuts successful crude lipid imports by Reliance Industries and state-owned refiners, a European deliberation vessel said connected Tuesday.According to information from the Centre for Research connected Energy and Clean Air (CREA), India’s full imports of Russian hydrocarbons stood astatine 2.3 cardinal euros successful December, down from 3.3 cardinal euros successful November. Turkiye overtook India to go the second-largest importer, buying Russian hydrocarbons worthy 2.6 cardinal euros during the month. China retained its presumption arsenic the largest buyer, accounting for 48 per cent, oregon astir 6 cardinal euros, of Russia’s export revenues from the apical 5 importers.CREA said crude lipid made up 78 per cent of India’s Russian imports successful December, valued astatine 1.8 cardinal euros. Coal imports were worthy 424 cardinal euros, portion lipid products accounted for 82 cardinal euros. India’s Russian crude imports fell 29 per cent month-on-month to their lowest level since the terms headdress argumentation was introduced, contempt a marginal emergence successful the country’s wide crude imports.The simplification was led chiefly by Reliance Industries’ Jamnagar refinery, which halved its Russian crude intake successful December.

“The entirety of their imports were supplied by Rosneft, albeit from cargoes purchased earlier the US Office of Foreign Assets Control sanctions came into effect,” CREA said, arsenic per quality bureau PTI. State-owned refiners besides reduced Russian imports by astir 15 per cent during the month.The cutbacks followed caller US sanctions connected large Russian lipid producers Rosneft and Lukoil, aimed astatine restricting backing for the Ukraine war. As a result, companies specified arsenic Reliance Industries, HPCL, HPCL-Mittal Energy and Mangalore Refinery person halted oregon reduced Russian lipid purchases, portion Indian Oil Corporation continues buying from non-sanctioned Russian entities.Russia supplied astir 25 per cent of India’s crude lipid imports successful December, down from 35 per cent successful November. India had emerged arsenic a large purchaser of discounted Russian lipid aft Western countries imposed sanctions pursuing Russia’s February 2022 penetration of Ukraine, sharply raising Moscow’s stock successful India’s crude basket.