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India's Russian crude imports hit record high in July

India's Russian crude imports hit record high in July
India’s Russian crude imports hit record high in July · thehindubusinessline.com

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.

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

Sources

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