India has cut its purchases of Russian oil to the lowest level since the start of the war in Ukraine

India has cut its imports of Russian oil to their lowest level since March 2022—the early months of Russia’s full-scale war against Ukraine. 

Before Russia’s full-scale invasion of Ukraine, India purchased almost no Russian Urals crude. However, after the war began, Indian refineries started actively increasing their purchases of Russian crude.

One reason was the discounts on Russian oil, as well as Russia’s desire to find new buyers for its supplies after European countries began turning away from Russian oil.

As a result, Indian refineries began purchasing between 1 and 2 million barrels of Russian oil per day.

Amid the crisis in the Middle East, India’s purchases of Russian oil surged in July 2026.

Supplies reached 2.44 million barrels per day, accounting for 56% of India’s total oil imports.

However, by September, the share of Russian oil in India’s imports had fallen to 35%.

An even more significant decline has been recorded in recent weeks.

According to vessel tracking data, in the four weeks leading up to October 4, average daily shipments of Russian oil to India totaled just 310,000 barrels.

This is the lowest figure since March 2022—that is, since the early months of Russia’s full-scale war against Ukraine.

The decline in purchases comes amid a resumption of oil shipments from the Middle East, which reduces Indian refiners’ need for Russian oil.

Bloomberg reports this, citing vessel tracking data.

Meanwhile, Syria plans to double its oil production within the year and increase refining capacity. The state-owned Syrian Petroleum Co. expects production volumes to rise as foreign operators return.

Iraq is preparing to export crude oil by truck through Syria to the Mediterranean Sea, seeking an alternative route to bypass the Strait of Hormuz. The first convoys could arrive in Baniyas, Syria, in mid-October.

Japan plans to use the Asian Zero-Emissions Community (AZEC) meeting, scheduled for later this week, to coordinate plans with other Asian countries to increase oil reserves. This was announced on October 6 by Japan’s Minister of Industry, Ryosei Akazawa.