India became the second-largest customer of Russian crude oil in October, trailing only China, according to data published by the Helsinki-based Centre for Research on Energy and Clean Air (CREA).
Indian refiners acquired Russian crude for 2.5 billion dollars this month, but Beijing maintained a clear lead with imports of 3.7 billion dollars. Despite increased Western scrutiny, the numbers show that India remains one of the largest users of inexpensive Russian oil.
In October, India imported 3.1 billion dollars worth of fossil fuels from Russia, which included crude oil, coal, gas, and oil products. In comparison, China’s total fossil-fuel imports from Russia were far greater at 5.8 billion dollars, indicating a larger energy appetite and deeper commercial interaction with Moscow.
Turkey ranked third among importers, purchasing Russian fossil fuels worth 2.7 billion dollars, while the European Union, which has mostly withdrawn from pipeline gas supplies, ranked fourth with 1.1 billion dollars in total imports.
Western governments, led by the United States and European nations, have continued to encourage major importers such as India and China to reduce their energy purchases from Russia.
They say that continuous trading in Russian hydrocarbons helps support Moscow’s protracted war against Ukraine.
Despite this pressure, both Asian giants have used lowered prices to obtain energy supplies, citing domestic need and energy security as top considerations.
In October, the US tightened sanctions against Russia’s energy industry by blacklisting its two largest oil exporters, Rosneft and Lukoil.
These punitive measures are intended to impede Moscow’s access to international shipping, insurance, and banking networks.
Industry analysts anticipate that the true impact of these penalties will be seen in December trade data, potentially reducing export flows to India and China or forcing them to seek alternate settlement arrangements.
During October, China remained the largest purchaser of Russian coal, followed by India and Turkey. India imported coal from Russia worth 351 million dollars, while refined oil products cost 222 million dollars.
These data show India’s diverse sourcing strategy, which includes the continued use of coal and oil derivatives for industrial and energy purposes in addition to crude imports.
Turkiye showed a more balanced energy mix in its Russian imports, establishing itself as a significant regional energy hub. It was the top consumer of Russian oil products in October, paying over $957 million, roughly half of which went toward diesel purchases.
Furthermore, Turkey bought 929 million dollars of pipeline gas and 572 million dollars of crude oil, demonstrating a persistent reliance on Russian energy despite Western pressure.
Despite drastically lowering its dependency on Russian fossil fuels since 2022, the European Union purchased $824 million worth of Russian liquefied natural gas (LNG) and pipeline gas in October. It also purchased 311 million dollars of Russian petroleum, indicating a continued reliance on particular member states where other sources are scarce.
South Korea rounded out the top five international importers of Russian fossil fuels. Its imports were 215 million dollars, with coal accounting for more over half, or 53 percent. The remaining consisted of 107 million dollars of LNG and 80 million dollars of oil products.
The most recent CREA research highlights the changing dynamics of global energy commerce as a result of the situation in Ukraine. Despite Western efforts to reduce Russia’s hydrocarbon revenues, Moscow continues to find reliable markets in Asia and the Middle East.
India’s status as the world’s second-largest importer of Russian crude demonstrates both resilience and pragmatism in its energy strategy, as it balances international diplomatic pressure with domestic economic concerns.
