NEW DELHI: Russian crude continues to flow into India despite US sanctions on two major Russian oil companies -- Rosneft and Lukoil – albeit in much lower quantity than earlier. Thanks to India’s private refiners, who continue to import Russian crude with modified operating strategies, and supplies from entities other than Rosneft and Lukoil, Russian oil remained among India’s top sources of crude oil in December 2025. According to commodity market analytics firm Kpler, imports were around 1.2 million barrels per day (Mbd), the lowest level since December 2022.
“Russian crude oil imports to India are retreating sharply in December, with volumes forecast to fall to around roughly 1.2 Mbd (25% of India's total import)—down from 1.84 Mbd in November. This would mark the lowest level since December 2022, pointing to a temporary shift in procurement patterns among key Indian refiners,” said Sumit Ritolia, lead research analyst, refining & modeling at Kpler.
He further added that the decline is largely driven by reduced intake from major buyers, particularly Reliance Industries (RIL) and the New Mangalore refinery, both of which have significantly scaled back Russian crude purchases during the month.
In October 2025, the US government sanctioned Rosneft and Lukoil, Russia’s largest oil companies. Together, the two firms had supplied nearly 60% of India’s Russian oil imports. Now, Russian supplies are increasingly being rerouted through a growing network of intermediaries, traders, and logistical workarounds.
Alternative sellers such as Tatneft, Redwood Global Supply, Rusexport, Morexport, and Alghaf Marine are expanding their trading footprint and taking over commercial roles previously played by Rosneft and Lukoil.
Meanwhile, India’s private refiners continue to import Russian crude, albeit with different operating strategies. Nayara Energy remains fully reliant on Russian grades, reflecting its ownership structure and sanctions-related constraints that limit access to non-Russian supplies. Reliance Industries has not exited Russian crude altogether and continues to receive cargoes, though volumes are more selective and aligned with specific operational and compliance considerations. Overall, private refiners have adjusted sourcing strategies rather than halted imports, with Russian barrels still playing a role where economics, logistics, and compliance frameworks permit.
“Yes, India does receive Russian crude from suppliers other than Rosneft and Lukoil, and those flows remain legal, for now,” said Ritolia.
“Russian oil itself is not sanctioned; the suppliers are. That is why non-designated producers can legally step in to fill part of the gap created by the Rosneft/Lukoil restrictions,” said Ritolia.
According to Kpler, Russia remained India’s largest crude supplier in December 2025 at 1.146 Mbd, despite lower volumes caused by sanctions-related disruptions. Iraq ranked second with 0.982 Mbd, followed by Saudi Arabia at 0.732 Mbd. The UAE supplied 0.566 Mbd, maintaining its position as a stable Middle East source, while the United States contributed 0.330 Mbd.
Company-wise, Nayara imported the highest volume of Russian crude in December at 348.69 thousand barrels per day (kbd), followed by state-owned Indian Oil Corporation Limited at 332.40 kbd and Reliance Industries at 285.02 kbd. HMEL (HPCL Mittal) imported 28.09 kbd, while MRPL and HPCL did not import any Russian crude during the month.
As per Kpler data, Rosneft remained the largest supplier at around 667 kbd, though volumes were lower due to sanctions. Tatneft supplied approximately 46 kbd, while several other Russian trading firms together supplied more than 350 kbd through indirect routes.