Overview
- A Centre for Research on Energy and Clean Air report shows India imported an estimated €5.8 billion of Russian hydrocarbons in May 2026, with crude making up about €4.8 billion of that total.
- Russian crude arrivals to key Indian refining hubs rose sharply month‑on‑month in May 2026, with Vadinar up 36%, Visakhapatnam up 42%, Jamnagar up 14%, New Mangalore up 13%, and Paradip recording its largest Russian intake in two years.
- Overall Indian crude imports grew about 8% month‑on‑month in May 2026, a change CREA attributes in part to a 21% increase in Russian crude purchases as refiners chased discounted barrels to cut feedstock costs.
- Products refined from Russian feedstock continued to reach markets that have sanctions on Russian oil products, with refineries in India and other countries exporting an estimated €641 million of such products in May 2026 and about €214 million refined from Russian crude.
- The shift reflects a longer post‑2022 rerouting of Russian energy toward Asian buyers, with China remaining the largest purchaser and India emerging as a major destination for discounted Russian crude that boosts local refining margins and export flows.