India Crude Oil Import From Russia : China and India have been at the forefront of buying crude oil from Russia. In July, India and China together bought 84 percent of Russia's total exports. Apart from this, both the countries are also buying coal from Russia on a large scale. According to the latest report, India, the world's third-largest oil consumer and importer, bought crude oil worth $ 2.8 billion from Russia in July. In this respect, India is second after China, which remains the largest importer of Russian oil. Russia has emerged as the largest supplier of crude oil to India. This oil is converted into fuels like petrol and diesel in refineries.

India is taking advantage of the discount, its share reached 40 percent

Russian oil was available at a discount after some European countries refrained from buying from Russia following the invasion of Ukraine in February, 2022.

After this, India started importing large quantities of crude oil at a discount. Before the war, crude oil imports from Russia were less than one percent of its total imported oil. It has now increased to about 40 percent of India's total oil purchases. Not only oil, China and India also bought coal from Russia.

Which other countries are buying crude oil from Russia

The Center for Research on Energy and Clean Air (CREA) said in a report that China bought 47 percent of Russia's crude oil exports, followed by India (37 percent), the European Union (seven percent), and Turkmenistan (six percent). Not just oil, China and India also bought coal from Russia. According to the report, from December 5, 2022, to the end of July, 2024, China bought 45 percent of Russia's total coal exports, followed by India (18 percent). Turkmenistan (10 percent), South Korea (10 percent), and Taiwan (five percent) are the top five buyers.