India has quietly stepped back from its position as one of the top buyers of discounted Russian energy.
The latest data shows a clear India Russian oil imports decline, pushing the country from second to third place globally in December 2025, according to a new report from the European think tank Centre for Research on Energy and Clean Air (CREA).
Reliance Industries and state-owned refiners scaled back purchases significantly, reflecting caution over potential US sanctions.
India Russian Oil Imports Decline: Key Figures from CREA
In December, India imported Russian hydrocarbons worth €2.3 billion (approximately ₹23,000 crore), down from €3.3 billion in November.
Turkey overtook India with €2.6 billion, while China remained firmly at the top with €6 billion—accounting for nearly half of Russia’s total fossil fuel export revenue.
Crude oil imports alone fell 29% to €1.8 billion from €2.6 billion the previous month, even as India’s overall oil imports edged higher, indicating a shift to alternative suppliers.
Reliance and Government Refiners Cut Back
The sharpest reduction came from Reliance Industries, whose Jamnagar refinery halved its Russian crude intake. Supplies had largely come from Rosneft, but fears of US sanctions prompted the cut.
State-owned refiners reduced purchases by 15%. Companies like HPCL, HPCL-Mittal Energy, and Mangalore Refinery (MRPL) either stopped or significantly lowered imports from sanctioned entities Rosneft and Lukoil.
Indian Oil Corporation continues buying from non-sanctioned Russian sources.
Russia’s Share in India’s Oil Basket Shrinks
Russia’s share of India’s total crude imports dropped from 35% in November to 25% in December.
After Western nations curtailed purchases following the 2022 Ukraine invasion, India’s share had surged from under 1% to as high as 40%. Now, refiners are turning back to traditional Middle East suppliers.
Refined Products Still Reach Sanctioning Countries
Indian, Turkish, and Bruneian refineries continue processing Russian crude and exporting refined fuels to nations that imposed sanctions.
In December, these exports to the EU, US, UK, and Australia totalled €943 million, with US-bound shipments rising 121%—much of it linked to Jamnagar.
Stay updated on global energy trade shifts, sanction impacts, and monthly import-export reports for the latest developments.