India’s oil imports from Russia

India is continuing its record-breaking run, having bought more discounted Russian crude oil for the ninth straight month, with refiners starting to purchase Russian crude using Chinese yuan

India's oil imports (thousand barrels a day) 

Saudi Arabia
Iraq
Russia

Jun: 2,168 IOC becomes first refiner to pay in yuan

Feb: 1,600

Feb 24: Russia invades Ukraine 

Jun: 947 U.S. asks India to cut Russian oil imports 

Oct: 902 Russian imports overtake Iraq and Saudi Arabia

Apr: 270 India Oil Corp. (IOC) buys first Russia oil

2,000 1,000 500 0

1,200 1,300 886 946 849
882 877 669 683 745
67.5 

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
2022 2023

Sources: Bloomberg, Kpler, Reuters Picture: Getty Images © GRAPHIC NEWS