India's Russian Oil buy Hits 11-Month High In June 2025

India's import of crude oil from Russia reportedly jumped to an 11-month high as refiners filled tanks amid Israel-Iran war tensions.

The south Asian nation imported 2.08 million barrels per day (bpd) of Russian crude in June, the highest  since July 2024 level, as per vessel tracking data, citing media reports.  

"While India's global imports of crude oil declined by 6 per cent in June, Russian volumes saw an 8 per cent month-on-month rise to their highest levels since July 2024," as per European think tank Centre for Research on Energy and Clean Air, citing media reports. 

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More than half of these imports from Russia were made by three refineries in India, which also export refined products to G7+ countries. India imports more than 85 per cent of its requirement of crude oil, which is turned into fuels like petrol and diesel in refineries. Traditionally, the Middle East was the main source, but Russia has been the mainstay supplier for nearly three years now.

After much of the West shunned Russian crude following Moscow's invasion of Ukraine in February 2022, Russia began offering steep discounts to attract alternative buyers. Indian refiners seized the opportunity, turning Russia, once a marginal supplier, into India's largest source of crude oil, overtaking traditional suppliers from West Asia. Russia now accounts for as much as 40 per cent of India's oil imports.

In June, India imported approximately 8,93,000 barrels per day (bpd) of crude from Iraq – its second-largest supplier – marking a 17.2 per cent month-on-month decline. Saudi Arabia followed with 5,81,000 bpd (largely unchanged from May), while imports from the UAE rose 6.5 per cent to 4,90,000 bpd.

Iraq accounted for 18.5 per cent of India's oil imports, followed by Saudi Arabia at 12.1 per cent and the UAE at 10.2 per cent. The US remained India's fifth-largest crude supplier, with import volumes of approximately 3,03,000 bpd and a 6.3 per cent market share, according to Kpler.

Meanwhile, China reportedly bought 47 per cent of Russia's crude exports in June, followed by India (38 per cent), the EU (6 per cent), and Turkiye (6 per cent).