Russian crude oil exports to India fell sharply due to US sanctions on major exporters. This decline impacts India's energy supply and trade relations.

Russian oil exports to India saw a drastic reduction in November, with shipments averaging 672,000 barrels per day, a 66% decrease from October's 1.88 million barrels per day. This decline is attributed to US sanctions imposed on major Russian oil companies, Rosneft and Lukoil. As a result, Indian refiners have become more cautious, leading to a significant drop in new orders. The sanctions are part of broader efforts to curb Russia's revenue amid its ongoing military actions in Ukraine. Additionally, Russian oil shipments to other key markets, such as China and Turkey, also fell sharply. The situation reflects a shift in trading practices, with many tankers now sailing without declared destinations as exporters seek to navigate the sanctions. Analysts predict that Russian crude flows to India will continue to decline in the near term, as refiners adapt to the changing landscape of oil supply.