India's imports of Russian oil products are set to hit a historic high in May 2025, surging 81% from April to reach 2.39 lakh barrels per day. This remarkable increase reflects India’s growing energy partnership with Russia, even as geopolitical tensions and calls for secondary sanctions intensify.
According to Kpler data compiled by Bloomberg, the surge in imports is being driven largely by fuel oil and dirty feedstocks such as vacuum gasoil. These products are in high demand due to an outage at Reliance Industries’ Jamnagar refinery, which has curtailed domestic fuel production. To fill the gap, Indian refiners have increasingly turned to Russian oil products, with fuel oil continuing to dominate the import basket.
A closer look at the data reveals a steady rise in Russian fuel oil shipments since 2021, with a sharp acceleration following the onset of the Ukraine conflict in 2022. From relatively modest levels between 2017 and 2020, India’s imports of Russian oil products have risen sharply, peaking in several months of 2023 and again reaching record levels in May 2025. Besides fuel oil, imports of naphtha, gasoil/diesel, and other products have also grown steadily.
Notably, India also ramped up its imports of Russian crude oil in May to nearly 1.8 million barrels per day, the highest in the past 10 months, as reported by Reuters. This indicates not just a spike in refined product imports, but a broader upswing in overall Russian energy intake. Refineries have already placed orders for over 10 cargoes of Russian oil for June delivery, suggesting that high-volume imports will likely persist into July.
This uptick in Russian oil purchases comes amid increasing diplomatic pressure. Ukraine has renewed its calls for secondary sanctions on countries buying Russian oil — a move that would directly target India, one of the largest importers of Russian crude since 2022. Despite this, India has maintained its stance, emphasizing the need to safeguard its energy security and economic interests.
The current data shows a clear trend: India is deepening its reliance on Russian oil, both crude and refined, even as Western nations attempt to isolate Moscow through sanctions. This growing energy cooperation has become a cornerstone of India's procurement strategy, especially during times of domestic supply disruptions like the recent refinery outage.
As global oil markets remain volatile and diplomatic tensions persist, India's energy policy is likely to continue balancing strategic autonomy with the need for stable, affordable supplies — a balance that Russia currently helps fulfill.
Disclaimer:
This article is for informational purposes only and is based on publicly available data from Kpler, Bloomberg, and Reuters. It does not constitute investment or political advice. Readers are advised to conduct their own research or consult professionals before making any decisions based on this content.
