India's imports of Russian oil products remain modest compared to Turkey, China, and Brazil

India’s imports of Russian refined petroleum products remain modest when compared to top buyers like Turkey, China, and Brazil, despite its prominent role in purchasing Russian crude oil. Since 2022, these three nations have surged ahead in buying Russian oil products, filling the vacuum left by the EU and UK following sanctions.

According to data from J P Morgan Commodities Research and industry sources, Turkey accounted for 26% of Russia’s refined oil product exports from December 2022 to July 2025. China followed with 13%, and Brazil with 12%. India is not among the top five buyers in this category.

Meanwhile, India’s imports of Russian crude oil stood at 1.6 million barrels per day in July 2025, marking a 24% decline from June and a 23.5% drop year-on-year. Despite the decrease, India remains one of the largest crude buyers from Russia, helping stabilize the global oil market by mitigating supply shocks.

Industry experts say India purchases Russian crude via international traders—not directly from Russian companies—and at prices below the G7-imposed cap. Analysts say that if India were to halt purchases, global oil prices could spike significantly.

Other key facts include:

Crude oil: China accounted for 47% of Russia’s crude exports since 2022. The EU and Turkey each represented just 6%.

LNG (Liquefied Natural Gas): The EU was the top buyer with 51%, followed by China (21%) and Japan (18%).

Pipeline gas: The EU again led with 37%, while China and Turkey followed at 30% and 27%, respectively.

In June 2025, the EU was the fourth-largest buyer of Russian fossil fuels—after China, India, and Turkey—with five EU countries paying approximately €1.2 billion for these imports.

Despite sanctions, carve-outs remain. Russian crude still flows through the Druzhba pipeline to Hungary, Slovakia, and the Czech Republic. Japan is exempt from restrictions on Russian seaborne oil until June 28, 2026. The EU’s 18th sanctions package also made exceptions for Canada, Norway, Switzerland, the UK, and the US.

The shift in global energy trade illustrates how countries like Turkey, China, and Brazil have emerged as dominant players in the refined oil segment, while India continues to prioritize crude imports over finished petroleum products.

(Courtesy: www.5wh.com)