Russia Oil Production

The country imported about 1.3 million barrels a day of Russian crude in December, according to data from ship-tracking firms Vortexa Ltd. and Kpler

RIL has cut Russian oil imports by 49 per cent, while the state-run refineries reduced it by 15 per cent in the month, said CREA

This despite West sanctions on Russian oil and Suez Canal hurdles

India on Friday said it is closely following developments relating to a proposed American legislation that seeks to impose up to 500 per cent tariff on countries procuring Russian crude oil. India and China are among a handful of countries which are procuring a significant volume of crude oil from Russia. US Senator Lindsey Graham, the author of the bill, said this week that President Donald Trump has green-lighted the proposed legislation. "We are aware of the proposed bill. We are closely following the developments," External Affairs Ministry Spokesperson Randhir Jaiswal said at his weekly media briefing here. "Our position on the larger question of energy sourcing is well known." "In this endeavour, we are guided by the evolving dynamics of the global market and by the imperative to secure affordable energy from diverse sources to meet the energy security needs of our 1.4 billion people," he said.

In order to avoid tracking, many of these ships turn off their automatic identification system, disappearing from standard maritime monitoring

Donald Trump has 'approved' a bipartisan sanctions bill that proposes duties of up to 500 per cent on countries buying Russian oil, raising pressure on India, China and Brazil

There has been a sharp rise in shadow fleet tankers switching to the Russian flag in the past month, with at least 17 vessels having done so in recent weeks

India imported about 144 billion euros' worth of crude oil from Russia since the start of the Ukraine war, a European think tank said on Tuesday, estimating the Kremlin's cumulative earnings from global oil sales since February 2022 at around 1 trillion euros. India has been the second-largest buyer of Russian oil behind China, according to the Centre for Research on Energy and Clean Air (CREA). China bought Euro 210.3 billion worth of Russian oil since the start of the Ukraine war in February 2022, and another Euro 42.7 billion worth of coal and Euro 40.6 billion worth of gas. China's total buy from the beginning of the war until January 3, 2026, was Euro 293.7 billion. India, on the other hand, bought Euro 162.5 billion worth of fossil fuels - Euro 143.88 billion worth of oil and Euro 18.18 billion worth of coal - from Russia, CREA said. The European Union spent Euro 218.1 billion on buying Russian fossil fuels - Euro 106.3 billion in oil, Euro 3.5 billion on coal and Euro 108.2

The stock of Reliance Industries declined 4.5 per cent and ended the session at ₹1,508.90, its biggest one-day decline since June 4, 2024

India's imports of Russian crude are likely to dip below 1 million barrels per day ‌as New Delhi seeks to clinch a trade deal ​with Washington

Reliance Industries said its Jamnagar refinery has not received Russian crude in three weeks and expects no deliveries in January

The vessels, laden with nearly 2.2 million barrels of Urals, are currently signaling the huge Jamnagar complex and are expected to deliver their cargoes early this month

India has gained the least since Russia invaded Ukraine in February 2022 and was penalized the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war

Overall Russian oil deliveries to India had slowed to as little as 712,000 barrels a day in the second week of December, before rising, according to Kpler

India slightly cut its reliance on Russian crude in early 2025, while imports from the US surged 83.3 per cent in value to $7.8 billion, reflecting a strategic shift toward alternative crude sources

At least five vessels carrying about 3.4 million barrels were idling in the Yellow Sea as of Wednesday, double the volume of last week and the highest level for the grade in that region

Ties between the two countries have remained strong despite pressure from Western sanctions after Russian President Vladimir Putin met with Prime Minister Narendra Modi

Unless wider secondary sanctions are introduced, India is expected to continue sourcing from non-sanctioned Russian suppliers, say experts

Emergence of new sellers reflects the importance of the $60 bn Indo-Russian trade to oil producers and refiners of both nations

By contrast, oil cargoes arriving in India from Russia next month could fall as far as 600,000 barrels a day, the weakest level since early 2022