Archive · 3 Jun 2025
India's Russian Oil Imports Surge to 10-Month High in May
India is buying more oil from Russia than before because it's cheaper, even with sanctions.
This helped India save money on gas.
India gets about 38% of its oil from Russia and has been increasing this since 2022 due to discounts.
The US and other countries are concerned about this.
India is also buying oil from Iraq and Saudi Arabia, and the government is watching the oil market.
India's imports of Russian crude oil hit a 10-month high in May.
Russia accounted for over 38% of India's total crude oil imports.
India continues to seek cheaper oil, and imports are being driven by discounts.
The US and other countries have imposed sanctions targeting Russian oil exports.
G7 nations have implemented a price cap on Russian seaborne crude.
- Who
- India
- What
- Imported 1.96 million barrels per day of Russian crude oil
- When
- May
- Where
- India
- Why
- Driven by discounted prices and diversification of sources
- May Russian Oil Imports
- 1.96 million barrels per day
- Russia's Share of India's Imports
- 38%
- Second-Largest Supplier
- Iraq
- Main Driver for Increased Imports
- Discounted Prices
- Average FOB price for Urals Crude in May
- Around $50 per barrel
- G7 Price Cap on Russian Oil
- Price cap of $60 per barrel
