India has imported €144 billion worth of Russian oil since the Ukraine war, according to a new report by Centre for Research on Energy and Clean Air (CREA). The data highlights how India has emerged as one of Russia’s biggest energy buyers after Western nations reduced purchases following the outbreak of the Ukraine conflict.
India Imported €144 Billion of Russian Oil Since Ukraine War: Key Findings
The report states that India imported €144 billion worth of Russian oil since the Ukraine war, making it one of the top destinations for Russia’s crude exports. Before the war, India bought limited oil from Russia, but discounted prices changed buying patterns quickly.
CREA noted that Russia redirected large volumes of oil to Asian markets, especially India, after Europe imposed sanctions.
Why India Increased Russian Oil Imports
Several reasons explain why India imported €144 billion of Russian oil since the Ukraine war.
Discounted Crude Prices
Russian oil was sold at lower prices compared to global benchmarks. This helped India reduce its overall import bill.
Energy Security Needs
India imports most of its oil. Securing steady and affordable supplies is critical for economic stability.
Rising Fuel Demand
India’s fast-growing economy and population continue to push fuel demand higher, increasing the need for reliable suppliers.
How Russian Oil Fits Into India’s Energy Strategy
India does not rely on a single country for oil. Instead, it buys from multiple sources to balance cost and supply risks. However, after the Ukraine war, Russia became a key supplier due to price advantages.
According to CREA, India imported €144 billion of Russian oil since the Ukraine war, helping Russia maintain export revenues despite Western restrictions.
Impact on Global Energy Markets
The fact that India imported €144 billion of Russian oil since the Ukraine war has reshaped global energy trade flows.
- Europe reduced Russian oil imports sharply
- Russia increased shipments to Asia
- India refined Russian crude and exported fuel to global markets
This shift shows how global oil trade adapts quickly to geopolitical changes.
What CREA Says About Sanctions Effectiveness
CREA’s report suggests that while sanctions reduced Russia’s energy sales to Europe, they did not fully cut its oil income. Continued purchases by countries like India helped Russia earn significant revenue.
The finding that India imported €144 billion of Russian oil since the Ukraine war raises questions about the overall effectiveness of energy sanctions.
India’s Official Position
India has repeatedly stated that its oil purchases are based on national interest and energy security. Officials have emphasized that buying discounted oil helps control inflation and protect consumers from high fuel prices.
India has also maintained that it follows international laws and does not violate any sanctions.
Environmental and Policy Concerns
CREA also highlighted environmental concerns, stating that continued fossil fuel trade slows the transition to clean energy. The group urged countries to reduce dependence on oil and invest more in renewable energy.
Despite this, short-term energy needs continue to drive oil imports globally.
What This Means Going Forward
If current trends continue, India may remain a major buyer of Russian oil in the near term. However, future imports will depend on global prices, geopolitical developments, and India’s long-term clean energy plans.
The fact that India imported €144 billion of Russian oil since the Ukraine war underlines India’s growing influence in global energy markets.
Final Thoughts
The CREA report showing that India imported €144 billion worth of Russian oil since the Ukraine war offers a clear picture of how energy trade has shifted since the conflict began. It highlights India’s focus on affordability and energy security, while also showing the limits of sanctions in a deeply connected global oil market.
