India’s Russian crude imports recorded a sharp 29% month-on-month reduction in December, slipping to the lowest levels since the price cap policy came into force, according to the latest report by the Centre for Research on Energy and Clean Air (CREA). The fall came despite a slight increase in India’s overall crude oil imports during the month.
Reliance and state refineries cut back
According to the CREA report, the main reason for the fall was Reliance’s Jamnagar refinery, which cut its imports by almost 49% in December. State-owned refineries also reduced their Russian crude intake by about 15%. CREA explained, “The entirety of their imports was supplied by Rosneft, albeit from cargoes purchased before the OFAC (US sanctions) came into effect.”
Kpler, a global data provider, reported that India imported over 20.4 million barrels of Russian crude in 2025. In December alone, India brought in 1.2 million barrels, down from 1.8 million barrels in November. By January 13, 2026, India had already imported over 1.1 million barrels of Russian crude.
India’s position among global buyers
In terms of value, India became the third-largest buyer of Russian fossil fuels in December, displaced from the second position by Turkiye. CREA reported that India spent €2.3 billion (around ₹24,150 crore) on Russian fossil fuels that month.
Of this, crude oil made up €1.8 billion (around ₹18,900 crore), accounting for 78% of the total. Coal imports stood at €424 million (about ₹4,450 crore), while oil products were valued at €82 million (around ₹860 crore).
For comparison, India’s crude oil imports were valued at €2.5 billion (around ₹26,250 crore) in October and €2.6 billion (around ₹27,300 crore) in November.
China dominates coal and crude oil purchases. Turkiye became the second-largest importer of Russian fossil fuels in December, replacing India. In December, China remained Russia’s biggest buyer overall, accounting for 48% of export revenue among the top five importers, worth €6 billion (around ₹63,000 crore). The EU ranked fourth, contributing 11%, or €1.3 billion (around ₹13,650 crore). The EU remains the largest buyer of LNG and pipeline gas.
Turkiye’s imports of Russian crude dropped 33% in December, even as total imports rose 9%, with supplies coming from Norway, Guyana, and Iraq. The Tupras-owned refineries saw a 69% fall in Russian crude imports, replaced mainly by Iraqi crude.
Who buys Russian fossil fuels?
Russia’s fossil fuel exports remain concentrated among a small group of buyers.
Coal exports were led by China at 43%, followed by India at 20%, Turkiye at 11%, South Korea at 10%, and Taiwan at 4%.
Crude oil purchases were dominated by China at 47%, followed by India at 38%, Turkiye at 6%, and the EU at 6%.
In oil products, Turkiye led with 27%, followed by China at 13%, Brazil at 11%, and India at 8%.
For LNG, the EU accounted for 49% of Russia’s exports, followed by China at 23% and Japan at 18%.
Pipeline gas exports were led by the EU at 35%, followed by China at 31% and Turkiye at 28%.
Russia’s fossil fuel exports see a slight decline
CREA also said Russia’s total fossil fuel export revenues dipped slightly in December, falling 2% month-on-month to €500 million per day (around ₹5,250 crore per day), the second-lowest level since the Ukraine war began.
Crude oil export revenue dropped 12% to €198 million per day (about ₹2,080 crore per day). Export volumes also fell by roughly 2%.
The report added that five refineries in India, Turkiye, and Brunei that process Russian crude exported €943 million (around ₹9,900 crore) worth of oil products to countries that have imposed sanctions. The EU received €436 million (about ₹4,580 crore), the US €189 million (around ₹1,985 crore), the UK €34 million (roughly ₹360 crore), and Australia €283 million (about ₹2,970 crore).