India significantly increased its Russian fossil fuel purchases in May, reaching an estimated 5.8 billion euros. Crude oil dominated these imports, accounting for 83% of the total, as reported by the Centre for Research on Energy and Clean Air (CREA).
## Key Takeaways
– India was the world’s second-largest buyer of Russian fossil fuels in May.
– Total Russian hydrocarbon imports by India in May were valued at 5.8 billion euros.
– Crude oil comprised 83% of these imports, amounting to 4.8 billion euros.
## Main Developments
India emerged as the world’s second-largest buyer of Russian fossil fuels during May, according to a report by the European think tank Centre for Research on Energy and Clean Air (CREA). Indian refiners notably boosted their crude oil purchases from Russia during this period.
The total value of Russian hydrocarbons imported by India in May reached an estimated 5.8 billion euros, equivalent to approximately USD 6.7 billion. This significant trade volume highlights India’s increasing energy procurement from Russia.
Crude oil constituted the vast majority of these imports, making up about 83% of the total. Its value for the month stood at 4.8 billion euros, reflecting a concentrated focus on crude.
Beyond crude, India also imported Russian oil products valued at 550 million euros. Coal imports from Russia contributed an additional 429 million euros to the total for May.
## What Next
The source article focuses on past import figures and does not provide information on upcoming developments. Therefore, specific future deadlines, decisions, launches, hearings, announcements, investigations, regulatory actions, or milestones cannot be detailed.
## Why This Matters
India’s position as the second-largest global buyer of Russian fossil fuels underscores its significant role in international energy markets. The substantial volume of these imports, particularly crude oil, highlights India’s energy sourcing strategy.
The breakdown of imports demonstrates that crude oil forms the primary component of India’s Russian energy purchases. This indicates a key reliance on raw crude for its refining sector.
The reported figures provide a clear snapshot of trade flows between India and Russia. They also offer insight into the scale of India’s energy demand and its diverse procurement methods.
## Frequently Asked Questions
### What was India’s ranking as a buyer of Russian fossil fuels in May?
India was the world’s second-largest buyer of Russian fossil fuels during May. This ranking was noted in a report by the European think tank CREA.
### What proportion of India’s Russian imports in May was crude oil?
Crude oil accounted for approximately 83% of India’s total imports from Russia in May. This amounted to a value of 4.8 billion euros.
### Which organization reported on these import figures?
The Centre for Research on Energy and Clean Air (CREA), a European think tank, published the report detailing India’s Russian fossil fuel imports for May.
