India Surpasses China as Top Importer of Russian Oil

In July, India became the largest importer of Russian oil, surpassing China. Indian refiners took advantage of discounted Russian crude amidst Western sanctions. India's imports hit 2.07 million barrels per day, driven by the shift of Russian ESPO Blend crude flow towards South Asia. Middle Eastern oil imports also rose.

India has emerged as the world's biggest importer of Russian oil, overtaking China in July, according to data reviewed by Reuters.

With a record-high import of 2.07 million barrels per day (bpd), making up 44% of India's overall imports, Indian refiners capitalized on the discounted crude amidst Western sanctions on Moscow.

The shift saw increased flows of Russian ESPO Blend crude from China to South Asia, while India also boosted its imports from Middle Eastern countries by 4% last month.