India Becomes Top Buyer of Russian Oil, Surpassing China

India became the top buyer of Russian oil in July 2024, surpassing China. Russian crude made up 44% of India's overall imports, reaching 2.07 million barrels per day, up 4.2% from June and 12% year-over-year.

Record Russian Oil Imports to India

India overtook China as the largest importer of Russian oil in July 2024
Russian crude made up 44% of India's overall imports, a new record
Imports reached 2.07 million barrels per day (bpd), up 4.2% from June and 12% year-over-year
ESPO Blend crude imports to India jumped to 188,000 bpd

Factors Driving India's Increased Russian Oil Purchases

Western sanctions on Russia led to discounted oil prices
Indian refiners capitalizing on these discounts to boost imports
Shift in trade patterns since Russia's invasion of Ukraine in February 2022
Increased imports helping to keep global prices stable and control inflation
Indian refining source: "India's requirement for Russian oil is going to go up as long as there are no further tightening of sanctions"

China's Reduced Russian Oil Imports

Chinese imports from Russia fell to 1.76 million bpd in July
Decrease due to lower profit margins for Chinese refiners
Tepid fuel demand in China, especially in the northeast
Traditional ESPO Blend crude buyers in China reducing purchases

Impact on Global Oil Trade and India's Import Mix

Changing flow of Russian ESPO Blend crude from China to South Asia
Iraq remains India's second-largest oil supplier
Saudi Arabia and United Arab Emirates follow as third and fourth largest suppliers
Middle East's share of India's oil imports rose to 40% in July from 38% in June
India's crude purchases from the Middle East increased by 4% in July

FCRA Rules for NGOs 2025

The Government of India has recently updated the FCRA rules for NGOs 2025, bringing significant changes that every aspirant preparing for SSC and other government exams must know. These new reg

Gukesh D World Champion vs Carlsen

In a stunning turn of events that has grabbed global headlines and sparked interest across India, Gukesh D., world champion, has emerged as the face of a new era in international chess. Th

OF.7 & NB.1.8 Subvariants in India

As India witnesses a fresh COVID surge in May 2025, SSC aspirants and general readers alike must stay updated on key developments, especially in public health. A new rise in COVID-19 cases is lin

JPMorgan AI Workforce Reduction

JPMorgan Chase, the largest bank in the United States, is shifting its strategy by cutting back on hiring and focusing on using artificial intelligence (AI) to boost efficiency. This move highlig

UAE Blue Visa Benefits

The United Arab Emirates (UAE) has launched an innovative visa program known as the Blue Visa, aimed at individuals contributing significantly to environmental sustainability and clean energy sector

NASA GRAIL Mission 2011

The NASA GRAIL mission 2011 has become a highlight in current affairs, especially for SSC aspirants interested in space- and science-related questions. This mission stands out as one of NASA

US immigration policy changes in 2025

The US immigration policy changes in 2025 have become a hot topic after the US Supreme Court agreed to review a case that could redefine birthright citizenship in America. The case revolves aroun

Russian cultural influence in Ukraine

The Russian cultural influence in Ukraine has become a major point of debate, particularly in the wake of the ongoing Russia-Ukraine conflict. With both historical and cultural ties dating back cent

Maldives' economic crisis of 2025

The Maldives' economic crisis of 2025 has once again brought the tiny island nation into the global spotlight. With public debt rising beyond sustainable limits and foreign reserves depleting

NATO Defense Spending Increase

NATO defense spending has become a crucial topic in global geopolitics, especially as security threats intensify worldwide. The NATO military budget is directly influenced by geopolitical develop