Archive · 17 Nov 2025
India's Russian Oil Imports Steady Despite US Sanctions
India kept buying a lot of oil from Russia in October, spending about 2.5 billion euros.
This is the same amount they spent in September.
The United States put new rules on two big Russian oil companies, but India still bought more Russian oil in October than in September.
India buys about 40% of its oil from Russia now, compared to almost none before a conflict started in Ukraine.
Other countries also buy Russian oil, like China, which buys the most, and India, which buys the second most.
India spent €2.5 billion on Russian crude oil in October, unchanged from September.
India remained the second-largest buyer of Russian fossil fuels in October, behind China.
Crude oil accounted for 81% of India's total Russian fossil fuel purchases in October.
The US imposed sanctions on Russian oil companies Lukoil and Rosneft in October.
Some Indian companies temporarily halted imports from sanctioned Russian firms, but overall imports increased.
- Who
- India, Russia, US, Centre for Research on Energy and Clean Air (CREA), Reliance Industries, HPCL-Mittal Energy Ltd, Mangalore Refinery and Petrochemicals Ltd, Rosneft, Lukoil
- What
- India's spending on Russian crude oil in October was €2.5 billion, unchanged from September, despite new US sanctions on Russian oil giants Rosneft and Lukoil. India remained the second-largest buyer of Russian fossil fuels, with crude oil comprising 81% of the total.
- When
- October
- Where
- India, Russia, US
- Why
- Russia offers discounted oil, and India seeks to diversify its energy sources.
US Sanctions on Russian Oil Giants
Indian Refiner Responses and Import Trends
Impact on Sanctioned Companies
US Sanctions on Russian Oil Giants
The US imposed sanctions on Rosneft and Lukoil to cut off Russian resources for the Ukraine war. These sanctions were expected to affect the flow of oil from these companies.
Indian Refiner Responses and Import Trends
Despite sanctions on Rosneft and Lukoil, these companies collectively shipped 45 million barrels of crude oil in October. Some Indian companies temporarily halted imports from sanctioned Russian firms, but overall crude oil imports from Russia increased by 11% month-on-month in October.
Overall Import Volume
US Sanctions on Russian Oil Giants
Sanctions aim to limit Russia's financial capacity.
Indian Refiner Responses and Import Trends
India's spending on Russian crude oil in October remained unchanged from September at €2.5 billion. State-owned refineries almost doubled their Russian oil volumes month-on-month in October.
- October Russian Crude Oil Imports Value
- €2.5 billion
- September Russian Crude Oil Imports Value
- €2.5 billion
- Total October Russian Fossil Fuel Imports Value
- €3.1 billion
- Crude Oil Share of Indian Russian Fossil Fuel Purchases
- 81%
- Month-on-Month Change in Indian Russian Crude Oil Imports
- +11%
- Total Russian Crude Shipped in October
- 60 million barrels
- Combined Crude Shipped by Rosneft and Lukoil in October
- 45 million barrels
Sources
India's spend on Russian oil buy at 2.5 bn euro in Oct ahead of new sanctions
India's spend on Russian oil buy at 2.5 billion euros in October ahead of new sanctions
India's spend on Russian oil buy at 2.5 billion euro in Oct ahead of new sanctions
India remains 2nd largest buyer of Russian oil with imports worth $2.9 billion as US levies sanctions on major oil firms
India keeps Russian oil purchases unchanged at 2.5 bn euro in October even as sanctions tighten
India’s Russian oil imports up 11% on month in October despite Trump rhetoric
India Spends €2.5 Billion on Russian Crude in October Despite Fresh Sanctions
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