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

Gaza Humanitarian Crisis 2025

The Gaza humanitarian crisis continues to be a pressing issue in 2025, attracting global attention due to its severe impact on millions of people living in the region. For SSC aspirants, understanding

Iran Missile Drill 2025

In a recent show of strategic strength, Iran conducted a large-scale missile drill titled “Sustainable Power 1404” in the northern Indian Ocean and the Gulf of Oman. This two-day exerc

Surya AI of NASA Explained

NASA has recently launched Surya AI of NASA, an advanced artificial intelligence model designed to transform space weather forecasting. Developed in collaboration with IBM and trained on nine year

Iran Military Drill in Indian Ocean

In a significant demonstration of military strength, Iran's Military Drill in the Indian Ocean titled “Sustainable Power 1404” was conducted in the northern Indian Ocean and the Gulf o

Belem Hosts UNFCCC COP 30

The 30th session of the Conference of the Parties (COP 30) to the United Nations Framework Convention on Climate Change (UNFCCC COP 30) is scheduled for November 2025 in Belem, Brazil. This upcomi

One Freezone Passport Dubai

In a bold step to reinforce its position as a global business hub, Dubai has launched the One Freezone Passport Dubai. This unified licensing system allows companies to operate acro

Trump-Putin Summit Alaska

The Trump-Putin Summit Alaska held at the Elmendorf-Richardson military base in Anchorage, marked a significant event in international diplomacy. Although the three-hour meeting did not produce a

U.S. National Debt Hits $37 Trillion

The U.S. National Debt has reached a historic $37 trillion, according to the latest report from the Treasury Department. This record-breaking milestone highlights the rapid accumulation of federal

Latest Global Food Price Trends 2025

The Global food price trends have become a critical topic in 2025, reflecting the complex dynamics of international markets, supply chains, and geopolitical factors. The latest data from the FAO F

Moldova Joins ISA as 107th Member

In a significant development in the field of international cooperation and clean energy, Moldova joins the ISA (International Solar Alliance) as its 107th member country. This move was officially