18-June-2026
Economy News
 
India buys $5.55 billion of Russian crude in May; Paradip sees biggest unloading in 2 years
18-Jun-2026

India’s imports of Russian crude oil surged 21% month-on-month in May, driving the country’s total purchases of Russian fossil fuels to €5.8 billion ($6.7 billion) and reinforcing its position as Russia’s second-largest energy buyer globally, even as Moscow’s fossil fuel export revenues rose only marginally amid softer crude prices. The sharp increase comes at a time when Russian crude is becoming increasingly important for Indian refiners. According to the latest analysis by the Centre for Research on Energy and Clean Air (CREA), crude oil accounted for 83% of India’s total Russian fossil fuel imports, amounting to €4.8 billion ($5.55 billion) in May alone. Oil products contributed €550 million, while coal imports stood at €429 million.

News Source:- https://www.financialexpress.com/policy/economy/india-buys-5-55-billion-of-russian-crude-in-may-paradip-sees-biggest-unloading-in-2-years/4270035/