India imports 85 percent crude oil
India has purchased a total of 112.5 billion euros of crude oil from Russia in about 3 years. This is after India’s purchase of crude oil, after the war started between Russia and Ukraine. A European Research Institute gave this information on Thursday. The ‘Center for Research on Energy and Clean Air’ (CREA) has released this report on the payment made to Russia for petroleum products from February 24, 2022. The report says, “According to our estimates, Russia has earned a total revenue of 835 billion euros from the export of fossil fuel since the Ukraine War began.”
China tops in terms of buying fuel from Russia
China was at the forefront with 235 billion euros (170 billion for oil for oil, 34.3 billion for coal for oil and 30.5 billion for gas) in terms of fossil fuel imports from Russia. According to the CREA, India bought a total of 205.84 billion euro fossil fuels from Russia in 3 years since March 2, 2025. In this, the purchase of crude oil was 112.5 billion euros while 13.25 billion euros were paid for coal.
India imports 85 percent crude oil
Let us tell you that India is the third largest crude oil consumer in the world and it is dependent on more than 85 percent imports to meet its crude oil needs. India spent $ 232.7 billion on import of crude oil in FY 2022-23 and $ 234.3 billion in FY 2023-24. In the first 10 months of the current financial year, India has spent $ 195.2 billion on oil imports. India started importing large quantities of oil from Russia immediately after the Ukraine War began in February 2022. In fact, Russian oil was being received at a very concessional price due to the restrictions of Western countries and some European countries avoiding purchases.
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