New Delhi: India India imported €2.9 billion of crude oil from Russia in August, nearly matching China’s €3.1 billion, according to the Helsinki-based Centre for Research on Energy and Clean Air. India’s crude imports increased from €2.7 billion in July, while China’s fell from €4.1 billion.
The US has been pressuring India to cut Russian oil purchases, arguing that they help finance Moscow’s war in Ukraine. Washington imposed a 25 per cent additional tariff on a slew of Indian exports to the US from August 27 as a penalty for buying Russian oil, while taking no such measures against other buyers. On Tuesday, US President Donald Trump urged the European Union to impose tariffs of up to 100 per cent on Chinese and Indian goods to push the two countries to curb energy trade with Russia, media reports said. In August, China was the largest importer of Russian crude and coal, while Turkiye was the biggest buyer of Russian oil products and gas.
India’s total fossil fuel imports from Russia stood at €3.6 billion, behind China’s €5.7 billion. Coal (€510 million) and refined products (€282 million) made up the rest of India’s purchases. China’s imports included €553 million of oil products, €855 million of coal and €676 million of pipeline gas. Turkiye ranked third with €3 billion of Russian fossil fuel imports, comprising €1.2 billion of pipeline gas, €1 billion of oil products, €596 million of crude and €225 million of coal. The European Union (EU) was fourth with €1.2 billion, led by €773 million of LNG and pipeline gas and €379 million of crude. South Korea was fifth, led by €413 million of coal, €118 million of LNG and €33 million of oil products. India has pushed back against US pressure, arguing it is unfair to single out the country while China, the EU and others continue to buy large volumes of Russian energy. The US has not directly sanctioned Russian oil but has imposed a price cap, allowing imports below a set threshold.
