Since Moscow first entered Ukraine on February 24th, India has purchased 34 million barrels of oil from Russia, according to Refinitiv Eikon data. Compared to the same period in 2021, it was a tripling of total oil imports from Russia.

These seaborne imports do not count CPC Blend oil, which although exported through Russia’s Black Sea Port, is supplied by Kazakhstan subsidiaries of Western countries.

Since February, India has been steadily increasing its imports of Russia oil. As the world’s third biggest oil importer, and Asia’s third largest economy, India has taken advantage of deeply discounted Russian oil to lower its national energy costs.

This month India has received 24 million barrels of oil, more than tripling the 7.2 million barrels it imported in April, itself up from 3 million barrels in March. In June it is projected to receive 28 million barrels, according to Refinitiv Eikon oil flows.

From February 24th to May 26th, in 2021, India imported $1.99 billion of goods from Russia, however in 2022, that number rose to $6.4 billion according to government figures.

India has dismissed any criticism of its purchases of Russian oil from Western political interests, noting those imports satisfied only part of the country’s needs, and pointing out a sudden cessation of the imports would drive up costs for Indian consumers.