India sharply increases imports of Russian oil
22.07.2026 - 13:50
In June, Indian ports handled more than 2.3 million barrels of Russian oil per day. Before the full-scale invasion, these imports were almost zero.
India has increased its imports of Russian oil to record volumes. This helps Russia maintain exports despite problems in the oil refining industry. This is reported by Bloomberg.
According to the agency, based on ship tracking, in June, Indian ports handled more than 2.3 million barrels of Russian oil per day. In July, deliveries remained at almost the same level. For comparison: before Russia’s full-scale invasion of Ukraine, imports of Russian oil to India were almost zero.
The exports of several of the largest Russian oil companies are under American restrictions, but this does not deter buyers. After the introduction of sanctions at the end of last year, a sharp reduction in supplies was expected. Instead, the use of intermediaries allowed Russia to significantly increase exports.
The record volumes are also explained by the price. The export price of Urals from Baltic ports fell to $48.27 per barrel, from Black Sea ports to $47.78. ESPO grade, which goes through Pacific ports, rose by 20 cents to $63.69. The price of Russian oil delivered to India has been falling for the 13th week in a row. It fell by another $1.6 to $65.28 per barrel, the lowest level since mid-March.
An additional factor is the reduction in Indian imports from the Persian Gulf countries amid the crisis around the Strait of Hormuz.
The situation may change. A group of US senators plans to submit a bill on new sanctions against Russia for consideration. The document provides for duties of up to 100% on the five largest buyers of Russian oil and gas, including India. It is not yet known whether President Donald Trump will support these measures – Washington and New Delhi are holding trade talks.
Meanwhile, the rapid growth of exports and longer customs clearance have led to the accumulation of oil at sea. As of Sunday, the volume of Russian oil on board ships reached about 137 million barrels.
At the same time, India condemned the Russian attack on the bulk carrier Golden Leo, which was leaving Odesa.
