Indian refiners' fuel exports to West surge 43% amid Russian crude imports

Indian refiners' fuel exports to West surge 43% amid Russian crude imports

Indian refineries processing Russian crude shipped €1 billion (USD 1.2 billion) of oil products to sanctioning countries in September, a 43% increase from August, according to the Centre for Research on Energy and Clean Air (CREA). Reliance Industries Ltd's Jamnagar refinery in Gujarat supplied six of the seven cargoes unloaded at EU ports that month, despite the bloc's sanctions on Russian energy. The surge highlights how refined products made from Russian crude are reaching Western markets through third countries. India, along with two other nations, has significantly increased imports of discounted Russian crude since the Ukraine war began. The findings raise questions about the effectiveness of Western sanctions aimed at limiting Russian oil revenues.