India Falls to Third in Russian Oil Imports After Reliance Cuts Purchases

India fell to the third position among global buyers of Russian fossil fuels in December 2025, with imports totaling €2.3 billion, down from €3.3 billion in November, according to the Centre for Research on Energy and Clean Air (CREA). The decline was driven by steep reductions in crude oil purchases by Reliance Industries and state-owned refiners amid U.S. sanctions on Russian producers Rosneft and Lukoil.

Turkey surpassed India as the second-largest importer, buying €2.6 billion of Russian hydrocarbons, while China remained the top buyer with €6 billion, accounting for 48% of export revenues from the top five importers. Crude oil made up 78% of India’s imports in December, totaling €1.8 billion, with coal (€424 million) and oil products (€82 million) comprising the remainder.

Reliance’s Jamnagar refinery reduced its Russian crude intake by 50%, supplied entirely by Rosneft cargoes purchased before U.S. sanctions took effect. State-owned refiners also cut imports by 15%. Despite the decline, India continued buying from non-sanctioned Russian entities, maintaining its position as a key buyer of discounted Russian crude since Western nations curtailed purchases following Russia’s 2022 Ukraine invasion.

Also Read: Reliance Quietly Restarts Russian Oil Imports With Jamnagar Cargoes

Russia supplied around 25% of India’s total crude imports in December, down from 35% in November. Exports of refined products from Indian and allied refineries to sanctioning countries totaled €943 million, a 9% decrease month-on-month, with notable declines to the EU and UK, while exports to the USA surged 121% to €189 million, mainly from Jamnagar refinery.

Globally, the EU ranked fourth in Russian fossil fuel imports at €1.3 billion, with Hungary as the largest single-country buyer, and Saudi Arabia fifth with €328 million. CREA noted that despite the dip in India’s imports, the country remains a major hub for discounted Russian crude, a trend that reshaped global oil trade dynamics in the post-Ukraine invasion era.

China continued to expand its purchases, with seaborne crude imports rising 23% month-on-month, driven by ESPO-grade oil, while Urals-grade inflows increased 15%, reaching the highest fourth-quarter volumes since Q2 2023. This underscores how geopolitical shifts and sanctions are reshaping the global fossil fuel market.

Also Read: Reliance Quietly Restarts Russian Oil Imports With Jamnagar Cargoes