India’s Russian Crude Oil Imports Fall 15% in April Amid Refinery Shutdown
India purchased crude oil worth Euro 4.5 billion from Russia in April, a decline of over 15% compared to March, according to the European think tank Centre for Research on Energy and Clean Air (CREA). The decrease followed a temporary shutdown of a refinery for scheduled maintenance.
The report identified India as the second-largest buyer of Russian fossil fuels in April, with total hydrocarbon imports of Euro 5 billion. Crude oil accounted for 90% of these purchases, with coal and oil products making up the rest. In March, India imported a total of Euro 5.8 billion in Russian hydrocarbons, of which crude oil comprised 91%.
Refinery Operations and Russian Oil Flows
Significant shifts were observed at refineries handling Russian crude. Imports at the Vadinar and Jamnagar facilities fell sharply, while state-owned IndianOil’s Vadinar operations saw an 87% increase. The state-run New Mangalore and Visakhapatnam refineries, which had halted Russian imports in late November 2025, resumed purchases in March and continued through April. Visakhapatnam’s Russian imports surged by 149% month-on-month.
The recent increase in Russian oil flows followed a sanctions waiver from the United States on Russian oil, covering cargoes already at sea and shipments on previously sanctioned vessels. The move aimed to ease price spikes that occurred after Washington went to war with Iran. The waiver prompted state refiners, which had paused Russian oil purchases, to restart imports.
Global Context: Russian Energy Exports
CREA also highlighted that from December 5, 2022, through April 2026, China purchased 37% of all Russian coal exports, followed by India at 19%. For Russian crude exports, China took 49%, with India at 37%.
Refineries processing Russian crude in India, Turkiye, Brunei, and Georgia exported Euro 760 million of oil products to sanctioning countries in April, including the EU, Australia, and the US. An estimated Euro 232 million of these products were refined from Russian crude.
Market Developments: Urals Crude Price
The average price of Russia’s Urals crude rose 19% month-on-month in April to $112.3 per barrel, remaining more than double the updated EU and UK price cap of $44.1 per barrel that took effect on February 1, 2026. The discount of Urals crude relative to the Brent benchmark narrowed as demand increased following the extended US sanctions waiver, amid constraints on tanker availability. CREA noted that while Russian crude prices have risen significantly due to higher freight and insurance costs, Free on Board (FOB) prices are likely still at a discount to Brent.
Original Article: India’s Russian Crude Oil Imports Fall 15% in April 2026 Amid Refinery Shutdown — Indexbox