(MENAFN) India maintained its status as the world’s second-biggest importer of Russian crude in October, trailing only China, according to data from the Center for Research on Energy and Clean Air (CREA).

The US on October 22 imposed sanctions on Rosneft and Lukoil, Russia’s largest oil producers, aiming to pressure Moscow to end the Ukraine conflict.

In its monthly review of Russian fossil fuel exports released on November 13, CREA reported that India spent $2.9 billion on Russian crude in October, representing 81% of the country’s total fossil fuel purchases from Russia.

“Russian crude imports by India recorded an 11% month-on-month increase in October,” the report noted, adding that total imports rose 8% compared with the previous month. While private refiners accounted for more than two-thirds of the shipments, state-owned refineries nearly doubled their Russian crude volumes in October.

The Vadinar refinery in Gujarat, partly owned by Rosneft and sanctioned by the EU, reportedly ramped up production to 90% of capacity last month. According to CREA, “after the EU sanctions in July, the refinery has been importing crude solely from Russia.”

The refinery’s Russian imports surged 32% month-on-month in October, reaching the highest levels since February 2022, though its exports fell to the lowest point since May 2023.

Data from Kpler shows that in September, Russia accounted for 34% of India’s oil imports. On average, India received approximately 1.8 million barrels of Russian oil per day in October.

Meanwhile, the US has imposed 50% tariffs on India, including 25% as reciprocal duties and the remainder as punitive measures linked to Russian oil imports.

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