Indian Refiners' Fuel Exports to Sanctioning Nations Rise 43%
ECONOMY & POLICY

Indian Refiners' Fuel Exports to Sanctioning Nations Rise 43%

Indian refineries shipped oil products worth €1 bn to countries imposing sanctions on Russia in September, a 43 per cent increase from August, according to a report by the Centre for Research on Energy and Clean Air (CREA), cited by news agency PTI. Refineries in Turkiye and Brunei were also included in the assessment.

Reliance Industries’ Jamnagar refinery in Gujarat accounted for six of the seven cargoes unloaded at European Union ports during the month. The shipments took place despite the EU’s ban on imports of oil products refined from Russian crude, which came into effect in January 2026.

The EU received products worth €667 mn from the refineries covered by the report. Australia imported €168 mn, the United States received €154 mn and New Zealand imported €19 mn. CREA estimated that €295 mn of the exported products had been refined from Russian crude, while Jamnagar accounted for €122 mn of shipments to the US.

Russian crude represented 32 per cent of Jamnagar’s crude oil imports between July and September. Among EU destinations, Italy received three shipments, Romania received two, and Spain and Cyprus received one each. The value of exports to EU ports from refineries processing Russian crude rose 80 per cent month on month, including a 104,000 t gasoil cargo from Jamnagar that was still travelling to Rotterdam.

CREA said the EU’s rules exempt net crude oil exporters, potentially allowing Russian crude to enter supply chains through third-country refineries. It recommended restricting imports from any refinery that had processed Russian crude during the previous six months, irrespective of the declared origin of the finished product.

India’s Russian crude imports fell 13 per cent in September, the second consecutive monthly decline. Purchases dropped 27 per cent at Jamnagar, 21 per cent at Indian Oil Corporation’s Paradip refinery and 8 per cent at Nayara Energy’s Vadinar refinery. Even after the fall, India remained Russia’s second-largest fossil fuel buyer, spending €4.1 bn on hydrocarbons, while crude accounted for 88 per cent of the total.

Indian refineries shipped oil products worth €1 bn to countries imposing sanctions on Russia in September, a 43 per cent increase from August, according to a report by the Centre for Research on Energy and Clean Air (CREA), cited by news agency PTI. Refineries in Turkiye and Brunei were also included in the assessment. Reliance Industries’ Jamnagar refinery in Gujarat accounted for six of the seven cargoes unloaded at European Union ports during the month. The shipments took place despite the EU’s ban on imports of oil products refined from Russian crude, which came into effect in January 2026. The EU received products worth €667 mn from the refineries covered by the report. Australia imported €168 mn, the United States received €154 mn and New Zealand imported €19 mn. CREA estimated that €295 mn of the exported products had been refined from Russian crude, while Jamnagar accounted for €122 mn of shipments to the US. Russian crude represented 32 per cent of Jamnagar’s crude oil imports between July and September. Among EU destinations, Italy received three shipments, Romania received two, and Spain and Cyprus received one each. The value of exports to EU ports from refineries processing Russian crude rose 80 per cent month on month, including a 104,000 t gasoil cargo from Jamnagar that was still travelling to Rotterdam. CREA said the EU’s rules exempt net crude oil exporters, potentially allowing Russian crude to enter supply chains through third-country refineries. It recommended restricting imports from any refinery that had processed Russian crude during the previous six months, irrespective of the declared origin of the finished product. India’s Russian crude imports fell 13 per cent in September, the second consecutive monthly decline. Purchases dropped 27 per cent at Jamnagar, 21 per cent at Indian Oil Corporation’s Paradip refinery and 8 per cent at Nayara Energy’s Vadinar refinery. Even after the fall, India remained Russia’s second-largest fossil fuel buyer, spending €4.1 bn on hydrocarbons, while crude accounted for 88 per cent of the total.

Related Stories

Gold Stories

Next Story
Real Estate

PE investment in Indian realty reaches USD 1.3 billion

Private equity (PE) investment in Indian real estate stood at USD 1.3 billion in Q3 2026, excluding USD 167 million in asset acquisitions by REITs and InvITs, according to Savills India. The investment volume declined 33 per cent quarter-on-quarter, amid geopolitical and macroeconomic uncertainties. However, inflows for January-September 2026 rose 16 per cent year-on-year to USD 4.5 billion.Hospitality emerged as the largest recipient of PE investment during the quarter, accounting for 26 per cent of total inflows. Industrial and logistics assets followed with a 22 per cent share, supported by..

Next Story
Real Estate

Bhartiya Urban plans Rs 10 billion investment in Nikoo Homes 9

Bhartiya Urban has launched Nikoo Homes 9 | Alpine | Bhartiya Garden Hill in Bagalur, North Bengaluru, in a joint venture with Alpine. The company plans to invest over Rs 10 billion in the development, which is spread across 13 acres of freehold land and will comprise 1,584 residential units across two phases.The project is part of the Nikoo Homes portfolio, built around the company's ‘The Good Life’ philosophy, which focuses on family, community, culture, health and learning. The development will offer a range of housing formats, from studios and lofts to Sky Villas. Most homes will have ..

Next Story
Infrastructure Transport

L&T Starts Initial Work on New Tashkent Airport Project

Larsen and Toubro (L&T) has begun initial activities for the New Tashkent International Airport project in Uzbekistan after receiving a limited notice to proceed from the consortium developing the greenfield facility. The work is being undertaken by its public spaces, airport and health (PAH) business vertical. The limited notice to proceed was issued after the execution of an engineering, procurement and construction (EPC) contract previously awarded to L&T for the passenger terminal and associated landside infrastructure. The company said the current phase includes initial engineering, detai..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code