India’s Russian oil imports hit record; refined fuel flows to nations sanctioning Moscow
The US sanctions waiver on Russian crude has expired and a fresh tariff threat of up to 100% looms as the Trump administration pushes for a Russia sanctions bill that gives the American president powers to impose tariffs on biggest oil importers from Moscow.
In July 2026, India's imports of Russian crude oil reached a record high, reflecting the nation's growing reliance on discounted Russian energy supplies despite Western sanctions. According to data from the Center for Research on Energy and Clean Air (CREA), India imported 5.5 billion euros worth of Russian crude in July, marking a 2.1% increase from the previous month.
Russian crude accounted for 87% of India's total fossil fuel imports from Russia that month, making it the country's second-largest crude supplier with a 39% share of total imports. This shift in supply dynamics came after Russia invaded Ukraine in February 2022, prompting Moscow to offer crude at steep discounts to Asian refiners as Western sanctions tightened.
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