India remained the world’s second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros ($6.7 billion) worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report.

Crude oil accounted for about 83% of India’s imports from Russia during the month, valued at 4.8 billion euros, while oil products and coal imports stood at 550 million euros and 429 million euros, respectively.

“India’s total crude import volumes recorded an 8% month-on-month increase in May. This is partially explained by a 21% month-on-month increase in Russian imports,” CREA said.

Some of India’s largest refining hubs recorded notable increases in Russian crude arrivals. Unloaded volumes at the Vadinar refinery in Gujarat rose 36% from April levels, while deliveries to the Jamnagar refining complex in the state increased 14%.

According to CREA, state-run refiners also expanded purchases after resuming imports earlier this year. The New Mangalore and Visakhapatnam refineries, which had halted Russian crude imports at the end of November 2025, continued buying Russian oil after restarting purchases in March.

Russian crude deliveries to New Mangalore rose 13% month-on-month in May, while imports at Visakhapatnam jumped 42%, it said.

The Paradip refinery on Odisha’s east coast also unloaded its highest volume of Russian crude in two years, underscoring the continued attractiveness of discounted Russian barrels for Indian refiners despite evolving geopolitical and sanctions-related pressures.

India emerged as one of the largest buyers of Russian oil since Western sanctions and trade restrictions reshaped global energy flows following Moscow’s invasion of Ukraine. Indian refiners have consistently increased purchases of discounted Russian crude, helping offset higher energy costs while boosting refining margins and exports of petroleum products.

The latest figures suggest Russian oil continues to account for a significant share of India’s crude import basket, even as the country diversifies supplies from the West Asia, Africa and the United States.

According to CREA, China bought 50 of Russia’s crude exports in May, followed by India (36%), Turkiye (6%), and the EU (5%)

“In May 2026, China remained the largest global buyer of Russian fossil fuels, accounting for 38% (Euro 7.0 billion) of Russia’s export revenues from the top five importers. Crude oil made up 69% (Euro 4.8 bn) of China’s purchases, followed by pipeline gas (Euro 618 million), then coal (Euro 525 million), and lastly LNG (Euro 510 million). Oil products (Euro 479 million) constituted the remainder of China’s imports,” it said.

CREA said despite the EU’s ban on imports of oil products made from Russian crude on January 21, 2026, 10 shipments of oil products from refineries using Russian crude were unloaded at EU ports in the month of May.

“Refineries using Russian crude in India, Turkiye, Brunei, and Georgia exported Euro 641 million of oil products to sanctioning countries in May 2026. The importers included the EU (Euro 174 million), Australia (Euro 275 million), the US (Euro 147 million) and New Zealand (Euro 45 million). An estimated Euro 214 million of these products were refined from Russian crude,” it said.

Exports to the U.S. originated at Reliance Industries Ltd’s Jamnagar refinery, the SOCAR-owned STAR refinery in Turkiye, and the Tupras Izmit refinery as well. “In the prior three months, 39% of the STAR refinery’s crude oil feedstock and 15% of the Jamnagar refinery’s feedstock came from Russia,” it added.

Indian state refiners have stopped buying Russian oil in the past week as discounts narrowed this month and U.S. President Donald Trump warned countries not to purchase oil from Moscow, industry sources said.

India, the world’s third-largest oil importer, is the biggest buyer of seaborne Russian crude, a vital revenue earner for Russia as it wages war in Ukraine for a fourth year.

The country’s state refiners — Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd — have not sought Russian crude in the past week or so, four sources familiar with the refiners’ purchase plans told Reuters.

IOC, BPCL, HPCL, MRPL and the federal oil ministry did not immediately respond to Reuters’ requests for comment.

The four refiners regularly buy Russian oil on a delivered basis and have turned to spot markets for replacement supply — mostly Middle Eastern grades such as Abu Dhabi’s Murban crude and West African oil, sources said.

Private refiners Reliance Industries and Nayara Energy, majority owned by Russian entities including oil major Rosneft, have annual deals with Moscow and are the biggest Russian oil buyers in India.

On July 14, Mr. Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine.

Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said.

Refiners fear the latest EU curbs could complicate overseas trade including fund raising — even for buyers adhering to the price cap. India has reiterated its opposition to “unilateral sanctions”.

Mr. Trump on Wednesday (July 30, 2025) announced a 25% tariff on goods imported from India from August 1, but added that negotiations were ongoing. He also warned of potential penalties for purchase of Russian arms and oil.

On Monday (July 28, 2025) Mr. Trump cut the deadline to impose secondary sanction on buyers of Russian exports to 10-12 days from the previous 50-day period, if Moscow does not agree a peace deal with Ukraine.

Russia is the top supplier to India, responsible for about 35% of India’s overall supplies.

Private refiners bought nearly 60% of India’s average 1.8 million barrels per day of Russian oil imports in the first half of 2025, while state refiners that control over 60% of India’s overall 5.2 million bpd refining capacity, bought the remainder.

Reliance purchased Abu Dhabi Murban crude for loading in October this month, an unusual move by the refiner, traders said.