2 weeks ago
India's Russian crude imports hit record high in July
India is a big country that needs lots of oil to run cars, buses, and factories.
In July 2026, India bought more oil from Russia than ever before.
The oil was worth about $6.4 billion, which is a huge amount of money.
This was the second month in a row that India set a new record for buying Russian oil.
India needs this oil because some important sea routes, like the Strait of Hormuz, have become hard for ships to use safely.
Different Indian ports received more oil, while a couple of others received the same amount or less.
At the same time, Russia sent less oil products to other countries than it ever had before.
The price of Russia's Urals oil was still higher than the limit set by Europe and the UK.
Experts are paying close attention because these oil purchases affect energy around the world.
India's crude oil imports from Russia hit a record of around $6.4 billion in July 2026, surpassing the June 2026 high of $5.14 billion.
Finland-based CREA said imports of Russian crude rose 2.1% month-on-month to €5.5 billion, marking a record for the second consecutive month.
Analysts say Russia has become India's strongest energy security hedge since the closure of the Strait of Hormuz and growing disruptions in the Bab-el-Mandeb strait.
Gains were driven by HPCL Mittal Energy's Mundra terminal (+58%), IndianOil's Vadinar SMPL (+35%) and Mumbai (+37%), while Jamnagar was unchanged and Paradip fell 22%.
India was the second-largest buyer of Russian fossil fuels in July, while Russia's oil product export loadings fell 23% to a record-low 4.7 million tonnes.
- Who
- India, Russia, and the Finland-based Centre for Research on Energy and Clean Air (CREA), which provided the analysis.
- What
- India's crude oil imports from Russia reached a record high in value terms, at around $6.4 billion (roughly ₹61,000 crore) in July 2026.
- Where
- India, with deliveries to terminals including Jamnagar, Paradip, Mundra, Vadinar and Mumbai; Russia's oil was also processed into products bound for the EU.
- When
- July 2026.
- Why
- Russia has become India's strongest energy security hedge following the closure of the Strait of Hormuz and growing disruptions in the Bab-el-Mandeb strait.
Key facts
- Record Russian crude imports
- ~$6.4 billion (₹61,000 crore) in July 2026
- Previous record
- $5.14 billion in June 2026
- Month-on-month change
- +2.1% (imports valued at €5.5 billion)
- India's total Russian fossil fuel imports
- €6.4 billion ($7.4 billion)
- Crude share of purchases
- 87% (coal €512 million, oil products €341 million)
- Urals crude average price
- $60.22 per barrel (-3% month-on-month)
- EU/UK price cap
- $44.1 per barrel (effective February 1, 2026)
- Russian oil product export loadings
- 4.7 million tonnes, a record low (-23%)
Quotes
Centre for Research on Energy and Clean Air (CREA)
Finland‑based research centre focused on energy and clean air
“India’s imports of Russian crude oil reached a record high for the second consecutive month in July 2026, rising by 2.1 per cent M-o-M and valued at euro 5.5 billion.”
thehindubusinessline.com









