September 30, 2026: The irony in Russia's latest oil trade is hard to miss. A country that has long been a major exporter of not just crude oil, but also refined petroleum products, is now importing gasoline from India. In a way Russia is importing back its own oil from India.

According to a recent analysis by the Centre for Research on Energy and Clean Air (CREA), Russia imported a record 172,000 tonnes of oil products in August 2026. And, nearly 70% of those imports came from India.

For India, Russia remains its single largest supplier of crude oil, and the numbers have hit new highs in the last few months with the US-Iran war disrupting oil supply from the Middle East via the Strait of Hormuz

In July 2026, India’s imports of Russian crude stood at a record high. In August, Russia imported refined petroleum products from India.

Russia’s import volumes in August 2026 were more than seven times the previous monthly high that was recorded since the full-scale invasion and three times the total import volume for the whole of 2025,. 

India’s refined oil product exports to Russia

The scale of Russia’s oil products imports, however small, is still significant.

“Russia’s import volumes in August 2026 were more than seven times the previous monthly high that was recorded since the full-scale invasion and three times the total import volume for the whole of 2025,” notes CREA in its report.

Gasoline accounted for 74% of Russia's total oil-product imports in August, compared with an average of just 6% between 2023 and 2025. The surge made Russia a net importer of gasoline during the month, despite its position as one of the world's largest exporters of refined petroleum products!

“India supplied 70% of Russia’s oil product imports (94% of its gasoline imports) in August, 120 thousand tonnes of gasoline (EUR 78 mn), all of it loaded at the Vadinar refinery and sold by EU-sanctioned Nayara Energy and bought by Rosneft,” says CREA.

Rosneft holds 49.13% of Nayara Energy, and Vadinar took 100% of its crude from Russia in the first eight months of 2026, up from 81% across 2025.

(Source: TOI)