"India's appetite for Russian crude cooled sharply in December, with imports falling to their lowest levels since 2022 as major refiners cut intake following sanctions on Rosneft and Lukoil. The only exception is Rosneft-backed Nayara Energy, which continues to rely heavily on Russian crude after EU sanctions curtailed alternative supplies. Beneath the surface, Russian crude flows into India are increasingly being rerouted through a growing web of intermediaries, traders, and logistical workarounds. "The sanctions announced by the US target specific companies (Rosneft, Lukoil, and their majority-owned subsidiaries), not all Russian oil or all Russian producers. "Russian oil itself is not sanctioned; the suppliers are.

Source: Economic Times December 30, 2025 18:35 UTC