India's Russian fossil fuel imports hit record EUR 6.4 billion in October
Crude oil accounted for 91 per cent of the purchases as the Jamnagar refinery became the top importer of seaborne Russian crude.
India's imports of Russian fossil fuels reached a record EUR 6.4 billion in October, according to a monthly analysis by the Centre for Research on Energy and Clean Air (CREA). This figure represents the highest monthly total for India since January 2022, according to reports by The Times of India, Telegraph India, and The Economic Times.
Crude oil made up 91 per cent of these purchases, totalling EUR 5.8 billion. The remaining imports included coal worth EUR 333 million and oil products worth EUR 232 million. India was the second-largest buyer of Russian fossil fuels in October, following China, which purchased EUR 10.7 billion worth of hydrocarbons.
Russian crude imports rose by 10 per cent month-on-month across India's three largest importing refineries. Imports at Nayara Energy's Vadinar rose 12 per cent, while Reliance Industries Ltd's Jamnagar saw a 22 per cent increase and Indian Oil Corporation Ltd's Paradip recorded a 28 per cent rise.
The increase at Jamnagar made it the largest importer of seaborne Russian crude. Additionally, ten of the 12 shipments of oil products from refineries processing Russian crude that arrived at European Union ports in October originated from the Jamnagar refinery.
Russia's total fossil fuel export revenues rose 14 per cent month-on-month to EUR 754 million per day in October. CREA noted this was the highest monthly level since December 2022, supported by higher international energy prices despite Western sanctions.
