India buys 18% of all Russia crude exports

Indian refiners bought 18% of all the crude Russia exported in May, up from 1% before the Ukraine invasion, with Reliance Industries NSE -0.92 %’ Jamnagar refinery sourcing 27% of its needs from there, a Helsinki-based research agency has said.

Russian crude oil imports into the European Union fell by 18% in May, the Centre for Research on Energy and Clean Air (CRECA) said in a report on Monday. “However, this reduction was taken up by India and the United Arab Emirates, leading to no net change in Russia’s crude oil export volumes.”