Trade irony amid Trump threat: Why Russia is buying its own oil as fuel from India
Russia has become a net importer of gasoline from India, a significant shift given Russia's status as a major global oil exporter. This trend is driven by internal supply dynamics and follows increased trade ties between the two nations amid global geopolitical tensions.
Why it matters
This trade anomaly highlights the complex and shifting nature of global energy markets under the pressure of international sanctions and regional conflicts.
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.
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