Business

India Is Now Europe’s Largest Supplier Of Refined Fuels

India has become Europe’s largest supplier of refined fuels this month while simultaneously buying record amounts of Russian crude, according to data from analytics firm Kpler. Europe’s reliance on Indian crude oil products has grown since the ban on Russian oil. Europe’s refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler’s data show. The development is a double-edged sword for the European Union. On the one hand, the EU needs alternative sources of diesel now that it has cut off direct flows from Russia, which was previously its top supplier. However, it ultimately boosts demand for Moscow’s barrels, and means extra freight costs.

Also read: GST Collection Reaches an All-Time High Of Rs 1.87 Trillion In April

It also means more competition for Europe’s oil refiners which can’t access cheap Russian crude. It comes amid wider market scrutiny about where the region’s diesel imports are coming from.
Russian crude oil arrivals to India are expected to surpass 2 million barrels a day in April, representing almost 44 per cent of the nation’s overall oil imports, according to Kpler data.

Russia emerged as a major supplier to India for the first time in 2022-23 (FY23) after it started giving oil at discounted rates amid the Ukraine war. Despite concerns raised by the West to India’s imports from Russia during the war. India has taken a strong stand and said that it looks at all options to achieve energy security.

Also read: Samsung Forbids Employees From Using ChatGPT For Mobile Devices

Russia was the largest exporter of crude oil to India by value in February in spite of the western price cap of USD 60 per barrel, according to the data from the Union Ministry of Commerce and Industry. Crude imports from Russia in February stood at USD 3.35 billion, followed by Saudi Arabia at USD 2.30 billion and Iraq at USD 2.03 billion.

The price cap kept by the western countries was designed to limit Russian oil revenues while keeping the oil itself flowing to avoid a global price shock.

Bharat Express English

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

2 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

3 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

3 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

4 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

4 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

4 hours ago