Overview
- India imported $2.5 billion of Russian crude in October and $3.1 billion of total fossil fuels, placing second to China, according to CREA.
- Washington sanctioned Rosneft and Lukoil last month, and market watchers say the effects will materialize in forthcoming trade figures.
- Indian refiners including Reliance, HMEL and MRPL have paused or halted some Russian purchases for now, reflecting compliance and risk considerations.
- October flows also included $351 million of Russian coal and $222 million of oil products for India, while China led coal purchases and Turkey led product buys.
- CREA data show Turkey bought $957 million of Russian oil products, $929 million of pipeline gas and $572 million of crude in October, highlighting broader shifts in regional energy trade.