India’s crude oil imports from Russia contracted sharply in December, slipping to their lowest levels in three years, as sanctions on major Russian producers
disrupted supply chains and prompted refiners to recalibrate procurement strategies.
According to data from Kpler, India imported around 1.14 million barrels per day (mbd) of Russian crude in December, down from 1.84 mbd in November and 1.61 mbd in October.
The December intake marks the lowest level since December 2022 and accounts for roughly 25% of India’s total crude imports, even after the decline.
The contraction follows sanctions on Russian oil majors Rosneft and Lukoil, which led large Indian buyers, including Reliance Industries and the New Mangalore refinery, to scale back direct purchases during the month.
Indian refiners were seen pivoting towards alternative suppliers across the Middle East, West Africa and the Americas, while also exploring non-designated Russian entities and opaque trading channels.
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Despite the headline decline, Russia continued to remain India’s largest crude supplier in December, underlining the depth of its integration into India’s energy basket.
“Beneath the surface, Russian crude flows into India are increasingly being rerouted through a growing web of intermediaries and logistical workarounds,” said Sumit Ritolia, Lead Research Analyst – Refining & Modelling at Kpler. “While direct purchases have softened, the underlying demand signal remains intact.”
Ritolia added that Russian barrels are expected to retain a structural presence in India’s crude slate, supported by favourable pricing economics, refinery compatibility and limited near-term alternatives. As traders such as Tatneft, Rusexport, Morexport and Alghaf Marine expand their footprint and take over the commercial role earlier played by Rosneft and Lukoil, Russian volumes are likely to reappear through indirect channels.
