Russian oil exports to India rose again in April, reaching new highs

Since the outbreak of the war in Ukraine and the introduction of sanctions against Russia by EU and G7 countries, India has significantly increased its purchases of Russian energy commodities, particularly oil. Last year, Indian refineries became the largest buyers of Russian oil, with imports continuing to rise in recent months. April was no exception: deliveries of Russian oil to the country rose again, reaching a new all-time high.

According to Reuters, India imported an average of around 1.9 million barrels of Russian oil per day in April, up 4.4% from March. Russian oil now accounts for approximately two-fifths of the country’s total imports. The further increase in imports from Russia helped raise the share of imports from the Commonwealth of Independent States, which brings together former Soviet countries, to 43.6% of India’s total oil imports, which amounted to 4.81 million barrels per day, or roughly 5% of global demand.