Day: July 23, 2026

India is importing record volumes of Russian oil, effectively becoming Moscow’s largest remaining market for crude exports, according to Bloomberg.

In June, Indian ports received more than 2.3 million barrels of Russian oil per day. Reuters estimates the figure even higher, at 2.64 million barrels per day—roughly half of India’s total oil imports for the month. Russian crude has increasingly replaced supplies from the Middle East, which have been disrupted by the conflict with Iran and shipping constraints in the Strait of Hormuz.

Analysts say Indian demand has become a critical lifeline for Russia, allowing Moscow to maintain oil production and exports despite losing much of the European market. However, record export volumes have not translated into record profits, as Russian oil continues to be sold at a discount, while intermediaries, shipping costs, and sanctions-evasion mechanisms absorb a significant share of the revenue.

India’s refining sector has emerged as one of the biggest beneficiaries. Refineries purchase discounted Russian crude, process it, and export gasoline, diesel, and jet fuel as Indian products. In July, India’s petroleum product exports are expected to reach 1.4 million barrels per day—nearly 50% higher than in May—allowing Indian refiners to capture profit margins previously earned elsewhere.

At the same time, India’s reliance on Russian oil has deepened. Russian crude now accounts for about 41% of the country’s oil imports, while the Middle East’s share has declined to 31%. Analysts note that this gives New Delhi considerable leverage in negotiations with Moscow but also increases its exposure to sanctions risks and potential policy changes in Washington.

The U.S. Congress is currently considering tariffs of up to 100% on major buyers of Russian energy exports, with India expected to be among the primary targets if such measures are adopted.

More broadly, analysts say the surge in Indian imports underscores that Russia’s oil isolation remains incomplete. While Europe has largely stopped buying Russian crude directly, the oil continues to reach global markets through Asia before being re-exported as refined petroleum products, helping preserve global supply while continuing to generate revenue for the Kremlin.
United24

India is importing Russian oil in record quantities, refining it, and reselling gasoline, diesel, and kerosene at high profits. As Russia continues its war, money keeps flowing to the Kremlin.
Those who reap billions in profits from cheap Russian oil are profiting from a war that is costing countless lives.

India loves blood money.

— @jurgen_nauditt Jul 23, 2026

#Prabowo  #FBI  #KashPatel  #FadliZon

The combat losses of the enemy from February 24, 2022 to July 23, 2026.