Russian fossil fuels
India Remains Second Largest Buyer of Russian Fossil Fuels in January 2026: India retained its position as the second-largest buyer of Russian fossil fuels in January 2026, importing energy worth €2.2 billion ($2.59 billion). The data was released by the Centre for Research on Energy and Clean Air (CREA). Despite a gradual decline in purchases since November, Russia remains central to India’s short-term energy matrix.
Crude oil formed the bulk of imports, reflecting India’s continued reliance on discounted Russian supplies amid global disruptions.
Composition of Imports
Out of the total €2.2 billion imports, crude oil accounted for 78%, valued at nearly €2 billion ($2.36 billion). Coal imports stood at €442 million, while oil products contributed a minor €30 million share.
Though imports dropped by nearly 23% since November 2025, India remained behind only China in Russian fossil fuel purchases. Pricing advantages continue to influence procurement decisions.
Static GK fact: India is the third-largest oil importer in the world, after China and the United States.
China Strengthens Lead
While India moderated purchases, China increased its Russian oil imports by 29% in recent months. In January alone, China imported crude worth €4 billion ($4.71 billion).
Chinese refiners doubled their intake of Urals crude, reaching record volumes. The ESPO grade remained stable in Chinese import baskets. Russian oil constituted around 16% of China’s total crude imports, strengthening Beijing’s strategic energy partnership with Moscow.
Sanctions and Regulatory Pressures
India’s imports were shaped by evolving sanctions and regulatory frameworks. The OFAC sanctions on Rosneft disrupted supply channels to certain Indian refiners. Additionally, the European Union ban on oil products derived from Russian crude came into effect on January 21, 2026.
The EU-UK price cap was fixed at $44.1 per barrel from February 1. Meanwhile, Russia’s Urals crude averaged $54.2 per barrel in January, remaining above the capped limit.
The Jamnagar refinery, operated by Reliance Industries, reportedly paused sea-borne Russian oil intake in January due to sanctions. Shipments resumed in February, indicating adaptive supply adjustments.
Static GK Tip: The Jamnagar refinery in Gujarat is the largest oil refining complex in the world by capacity.
Import Volumes and Supply Shifts
India imported around 1.2 million barrels per day (bpd) of Russian oil in January. However, projections suggest imports may decline to 800,000 bpd in March, the lowest since May 2022.
During the same period, Saudi Arabia supplied 774,000 bpd, gradually regaining share in India’s crude basket. Refiners appear to be rebalancing procurement to diversify risk exposure.
Static GK fact: India’s major crude suppliers traditionally include Iraq, Saudi Arabia, UAE, and Russia.
India’s Strategic Energy Approach
Despite speculation regarding possible policy shifts, there has been no official confirmation that India will discontinue Russian crude imports. India’s energy strategy remains guided by cost efficiency, supply security, and geopolitical balancing.
Diversification of sources is underway, yet Russian oil continues to offer competitive pricing advantages. The evolving sanctions regime, price caps, and global trade realignments are reshaping India’s energy calculus without fundamentally altering its core objective of ensuring uninterrupted supply.
Static Usthadian Current Affairs Table
India Remains Second Largest Buyer of Russian Fossil Fuels in January 2026:
| Topic | Detail |
| India’s Rank | Second-largest buyer of Russian fossil fuels in Jan 2026 |
| Total Imports | €2.2 billion ($2.59 billion) |
| Crude Oil Share | 78% of total imports |
| Major Sanction Authority | OFAC (US Treasury) |
| EU Price Cap | $44.1 per barrel (from Feb 1, 2026) |
| Average Urals Price | $54.2 per barrel in January 2026 |
| Indian Import Volume | 1.2 million bpd (Jan 2026) |
| Alternative Supplier | Saudi Arabia (774,000 bpd) |
