India second largest importer of Russian crude oil in October; China ranks first – when will impact of Trumpโ€™s sanctions be seen?
0 2 min 7 mths


India second largest importer of Russian crude oil in October; China ranks first - when will impact of Trumpโ€™s sanctions be seen?

India has stood its ground, continuing buying crude from Russia, despite repeated objections from US President Donald TrumpIn October, crude oil worth $2.5 billion flowed into the country from Moscow, making it the worldโ€™s second-largest buyer. India was second only to China, which purchased $3.7 billion, according to the Helsinki-based Centre for Research on Energy and Clean Air (CREA). Overall, Indiaโ€™s fossil-fuel imports from Russia reached $3.1 billion, while Chinaโ€™s total stood at $5.8 billion.

Russian Oil Becomes Cheaper, India Plans Higher Imports Despite Donald Trump’s Tariff Pressure

Turkey followed with imports valued at $2.7 billion, and the European Union came fourth, bringing in Russian energy products worth $1.1 billion. Western nations, have repeatedly called on India and China to limit their purchases of Russian oil, citing concerns that these imports are financing Moscowโ€™s war in Ukraine. The impact of US sanctions on Russiaโ€™s leading oil exporters, Rosneft and Lukoil, announced last month, is expected to appear in India and Chinaโ€™s December import figures. China maintained its position as the top buyer of Russian coal, with India and Turkey ranking next. In October, India imported $351 million worth of Russian coal and $222 million worth of oil products. Turkey was the largest buyer of Russian oil products, with imports valued at $957 million, nearly half of which was diesel. The country also acquired $929 million worth of Russian pipeline gas and $572 million in crude oil. The EU imported $824 million worth of Russian LNG and pipeline gas and $311 million worth of crude oil during the month. South Korea ranked fifth among global importers of Russian fossil fuels, with coal accounting for more than half of its imports ($215 million), followed by LNG ($107 million) and oil products ($80 million).



Leave a Reply

Your email address will not be published. Required fields are marked *