India remained the world's second-largest buyer of Russian fossil fuels in May, importing Russian hydrocarbons worth an estimated 5.8 billion euros (USD 6.7 billion), as refiners stepped up purchases of discounted crude from Moscow, according to a report by the Centre for Research on Energy and Clean Air (CREA).

Indian refiners have secured crude and LPG supply through at least August, boosting purchases from the UAE, West Africa, Brazil, and Venezuela amid the Middle East crisis.

India ramped up Russian oil imports from 4% to over 40% at US request, spending $168 billion. Now crypto is facilitating the deals amid sanctions.

Oil imports to China in April fell to the lowest level since October 2021, from 11.76 million bpd to 9.32 million bpd

India continued its strong demand for Russian fossil fuels in May. The nation emerged as the second-largest buyer globally, importing hydrocarbons worth 5.8 billion euros. Crude…

India remained the world's second-largest buyer of Russian fossil fuels in May, importing Russian hydrocarbons worth an estimated 5.8 billion euros (USD 6.7 billion), as refiners…

India's Russian oil imports rose significantly in May, with refiners increasing purchases by 36% at Gujarat's Vadinar refinery and 14% at Jamnagar's refining complex.