India's Russian crude imports dip

India's imports of Russian crude oil are set to register a sharp pullback in December, but the decline reflects short-term disruptions rather than a structural shift in sourcing patterns.

- PRESS TRUST OF INDIA

According to real-time data analytics company Kpler, Russian crude imports into India are expected to fall to around 1.2 million barrels per day (bpd) in December, down from 1.84 million bpd in November, marking the lowest level since December 2022.

Indian refiners continue to buy Russian crude from non-sanctioned entities.

The drop, flagged by analysts as early as October, has been driven by disruptions resulting from US action on top Russian exporters, Rosneft and Lukoil, as well as due to the impact of EU sanctions on Russian-linked product flows.