#Secondlargestbuyer - Business Outrank

Imports of Russian crude oil into India plummeted in December, and the country was thrown out of its long-standing role as the second-largest buyer of fossil fuel from Russia. Centre for Research on Energy and Clean Air data revealed a 29% month-to-month decrease, although the overall crude imports by India increased marginally in the month. The report attributed most of the decline primarily to reduced purchases by major refiners. Reliance Industries cut Russian crude consumption in the Jamnagar refinery by almost 49% in December. State-owned refiners reduced volumes by approximately 15%, and supplies were mostly provided by Rosneft using the previous contracts. The shipping information provider, Kpler, reported that India had imported over 20.4 million barrels of Russian crude in 2025. December sales fell to 1.2 million barrels, down from 1.8 million in November. Already on January 13, 2026, imports were over 1.1 million barrels, which is an indication of a small recovery at the beginning of the new year. India was ranked third in value terms this December in terms of purchasing Russian fossil fuels. CREA showed that Turkiye moved to the second position. India also imported €2.3 billion of Russian fossil fuels, a reduction of €2.6 billion in November, and almost half of the expenses were incurred on crude oil. Among the five largest customers of Russia, China remained the largest contributor of 48 percent of the revenue of fossil fuel exports. In the month of March, China bought Russian energy amounting to €6 billion. The European Union came 4th as the biggest purchaser of Russian LNG and pipeline gas despite sanctions. The emergence of Turkiye occurred when its Russian importation of crude oil dropped by 33% in December. The overall crude imports did not decrease; the refineries resorted to imports from Norway, Guyana, and Iraqi sources. According to the estimation by CREA, Russian barrels were mostly substituted by Iraqi crude at the refineries owned by Tupras. CREA also recorded a minor decline in the revenues of Russia in the export of fossil fuels. The daily revenues decreased 2% in the month-on-month percentage to €500 million, which is the second lowest since the war in Ukraine. Revenues based on crude oil decreased by 12%, and the volume of exports reduced by approximately 2%. The statistics indicate that Russia continues to make its energy exports to a limited number of buyers. Ratings can easily be changed by any change in refinery behaviour as observed in India and Turkiye. We can observe these movements as the reflections of pricing pressures, risks of sanctions, and shifting supply decisions instead of the long-term change.

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