India Imports Record Russian Crude While Supplying Refined Petrol

India has significantly expanded its energy trade with Russia, characterized by record crude imports and a reversal in refined fuel flows. In June 2026, India became the second-largest buyer of Russian hydrocarbons, with total imports reaching €5.5 billion. Crude oil purchases rose 34% from May to €4.5 billion, driven by substantial gains at major refineries including Reliance Industries' Jamnagar site, which saw a 150% increase in Russian crude imports.

Simultaneously, India has begun supplying petrol to Russia through international trading channels. This shift follows military actions and drone strikes that damaged Russian refining infrastructure, leaving the country unable to meet domestic summer demand despite its own crude production. While cargoes from Nayara Energy's Vadinar refinery have reached Russian buyers, the Indian government maintains these are not direct exports.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri clarified that international traders acquire Indian-origin fuel before selling it to Russia, rather than through direct company-to-company arrangements. Additionally, Indian refineries have facilitated the flow of refined Russian crude to other markets, including a jet fuel cargo delivered to the United Kingdom under a government exemption. Despite the increase in volume, Russia's crude oil export revenues fell 8% month-on-month to €348 million per day due to declining prices.