In September, India imported crude oil worth ₹25,597 crore from Russia, making it the second-largest buyer of Russian fossil fuels after China. Despite US pressure and additional tariffs, India continued its purchases of Russian oil and coal. China still leads India, while India holds the second position in terms of refineries and refined oil.
Russian oil: According to data from CREA (Centre for Research on Energy and Clean Air) in Helsinki, Indian refineries purchased Russian crude oil worth ₹25,597 crore in September, making India Russia's second-largest fossil fuel importer. Despite warnings from US President Donald Trump not to buy Russian oil and an additional 25% tariff, India continued its purchases. During this period, China held the first position with oil imports worth ₹3.2 billion. India also imported coal and refined oil products from Russia, while other major buyers included Turkey, the EU, and South Korea.
India's Russian Oil Imports
According to CREA data, Indian refineries purchased crude oil from Russia worth ₹25,597 crore, or approximately ₹2.5 billion, in September. During the same period, China purchased oil worth approximately ₹3.2 billion. Thus, in terms of oil purchases from Russia, India ranks second after China. Besides Russian crude oil, India also remains the second-largest buyer of coal and refined fuels. India's total fossil fuel imports amounted to ₹3.6 billion, trailing China's imports of ₹5.5 billion.
US Pressure and Tariffs
US President Donald Trump repeatedly warned India not to buy Russian oil. The US argued that oil and gas sales from Russia help Moscow fund the Ukraine war. Consequently, Washington imposed an additional 25 percent tariff on Indian exports. However, this pressure did not affect India. India continued to purchase Russian oil, maintaining its position as the second-largest buyer in the global market.
Coal and Refined Oil Imports
India's crude oil imports from Russia decreased by 9 percent in September, reaching their lowest level since February. A major reason for this was a 38 percent reduction in purchases by state-owned refineries. Furthermore, India imported Russian coal worth ₹452 million and refined oil products worth ₹344 million. In the same period, China imported coal worth ₹784 million, pipeline gas worth ₹658 million, and LNG worth ₹487 million.
Imports of oil products decreased by 27 percent. Experts believe this was mainly due to disruptions in diesel production in Russia following its attack on Ukraine. The European Union imported LNG and pipeline gas worth ₹743 million and crude oil worth ₹311 million from Russia. South Korea imported a total of ₹283 million, ranking fifth.
India's Position in the Global Fossil Fuel Market
CREA data indicates that among Russia's fossil fuel buyers, China ranks first, followed by India at second, then Turkey, the European Union, and South Korea. China is the largest buyer of Russian crude oil, LNG, and coal. Meanwhile, Turkey leads in refined oil products and pipeline gas.
For India, this situation demonstrates that despite US pressure and tariffs, the country has prioritized its energy security and oil supply interests. Imports of fossil fuels from Russia are crucial for India's refining sector and domestic petroleum needs.
