India’s oil imports from Russia to hit five-month high – Reuters
India’s imports of Russian oil are expected to reach a five-month high in November, Reuters reported on Tuesday, citing data from ship-tracking agency Kpler.
New Delhi’s purchases of Russian crude are likely to hit 1.855 million barrels per day (bpd) this month, a 25% rise over October, the report added.
“Russian supply is expected to be high in November as many refineries tried to fill the stocks prior to the US sanctions deadline and also due to the rule for oil products production for EU market from non-Russian oil from 2026,” the news agency cited a trading source as saying.
The US announced sanctions on October 22 that set a deadline of November 21 for companies to wind down dealings with Russian oil majors Rosneft and Lukoil.
The EU has set a January 21 deadline after which it will not accept fuel from refineries that handled Russian crude within 60 days of the bill of lading. Russia has been India’s top oil supplier since 2022, since which time the South Asian nation has also emerged as a major exporter of refined fuels to Europe.
The US earlier slapped 50% tariffs on India, split evenly between reciprocal levies and a punitive measure for importing Russian oil. New Delhi has dismissed criticism over its Russian oil imports and maintains that its energy policy is driven by “national interest,” though it is also expanding trade with the US.
