Indian refiners are scaling back purchases of Russian crude oil as Ukrainian drone strikes disrupt export infrastructure in Russia. The Novorossiysk terminal, which handled roughly 840,000 barrels per day destined for Indian buyers, has been particularly affected, with up to 40 percent of Russian refining capacity knocked out during peak strike periods in 2026. India’s imports from Russia hit a record of approximately 2.6 million barrels per day in June 2026, representing over half of India’s total oil imports, before declining to 1.14 to 1.24 million barrels per day in December 2025 due to logistics disruptions. Russia has found itself in the unusual position of importing gasoline from Indian traders as its own refineries cannot meet domestic demand. State-run giants like Indian Oil Corporation and Bharat Petroleum have maintained relatively stable flows, while Reliance Industries, India’s largest private refiner, has intermittently reduced purchases.
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