New Delhi: India continued to firmly hold its position as the world second largest buyer of Russian fossil fuels in May 2026, importing hydrocarbons valued at a massive 5.8 billion Euros, which translates to approximately 6.7 billion US Dollars. According to the latest report released by the European think tank, the Center for Research on Energy and Clean Air, Indian refiners scaled up their intake of discounted Russian crude oil despite continuous Western regulatory pressures and global monitoring.
The strategic shift in India energy procurement began after the outbreak of the Ukraine conflict, which triggered extensive Western sanctions against Moscow. Choosing to prioritize domestic economic interests and national energy security, New Delhi aggressively tapped into discounted Russian supplies. This approach has allowed Indian refiners to stabilize domestic fuel costs and maximize margins by processing affordable feedstock for both local consumption and international export.
The visual representation above highlights the deepening bilateral trade ties that have turned India into a primary hub for processing crude shipments. The Center for Research on Energy and Clean Air data indicates that crude oil formed 83 percent of India total imports from Russia, amounting to 4.8 billion Euros. The remaining imports comprised 550 million Euros worth of refined oil products and 429 million Euros of coal. Driven by a 21 percent surge in Russian shipments, India total crude imports grew by eight percent month on month in May.
This import momentum was highly visible across both private and public sector refineries. In Gujarat, the Vadinar refinery saw a 36 percent jump in unloading Russian crude compared to April, while the Jamnagar refining complex registered a 14 percent increase. State owned refiners also ramped up intake. The New Mangalore and Visakhapatnam refineries, which had paused Russian crude imports in late November 2025, successfully resumed operations in March and recorded import growths of 13 percent and 42 percent respectively in May. Concurrently, the Paradip refinery in Odisha hit a two year high in unloading Russian crude oil.
Globally, China remained the top buyer, absorbing 50 percent of Russia total crude exports, while India followed closely at 36 percent. Interestingly, the report exposes major loopholes in Western sanctions. Despite the European Union ban on products derived from Russian crude, refineries in India, Turkey, Brunei, and Georgia exported refined products worth 641 million Euros to sanctioning nations in May alone. The United States imported products worth 147 million Euros, primarily from Reliance Industries Jamnagar refinery, where Russian oil made up 15 percent of the total feedstock over the past three months.
Ultimately, these developments illustrate India pragmatic balancing act on the global stage. By insulating its economy from global energy shocks and quietly supplying refined products back to Western markets, New Delhi has cemented its role as an indispensable manager of the global energy supply chain.