Full Breakdown
Russia Turns to India for Gasoline as Ukrainian Strikes Cripple Its Refineries
7/16/2026, 9:03:55 PM
Core Event: Russian Companies Request Indian Gasoline Supplies
In June 2024, Russia’s major oil firms—Rosneft, Gazprom Neft and Lukoil—approached Indian refiners seeking gasoline imports. The outreach follows a severe domestic fuel shortage triggered by Ukrainian drone and missile strikes that have knocked out roughly 40 % of Russia’s refining capacity.
Background & Context
Ukrainian attacks have driven Russia’s crude-processing rate to its lowest level in 21 years, prompting nationwide fuel rationing and a series of export bans: gasoline in April, jet fuel on June 1 and diesel on July 8. Prior to the crisis, Russia consumed about 110,000 tons of gasoline per day (?3 million tons per month).
Key Figures & Groups
- Rosneft, Gazprom Neft, Lukoil – Russian oil majors seeking imports.
- Hardeep Singh Puri – Indian Oil Minister.
- Nayara Energy – Indian refinery partially owned by Rosneft.
- Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp – State-run Indian refiners contacted by Russian firms.
- Kpler – Data-analytics platform tracking tanker movements.
Data & Statistics
- Reported imports: 60,000 tons of gasoline from India (via tankers *Agni* and *Varg*) and about 50,000 tons of AI-92 gasoline from Kazakhstan.
- Belarus is cited as supplying 100,000–150,000 tons per month.
- Tanker Agni loaded 42,000 metric tons at Vadinar port (June 18-20) and performed a ship-to-ship transfer to *Garnet* at Damietta Light, Egypt (July 6-7); *Garnet* is expected in Vitino, Russia, around July 26.
- Tanker Varg loaded an unspecified quantity at Vadinar and is headed for the Suez Canal for a similar transfer.
Official Statements & Responses
- Hardeep Singh Puri said Indian companies were not selling fuel to Russia but “it was possible that Russia purchased Indian-origin fuel from traders.”
- Nayara Energy asserted it “has neither sold nor has any plans to sell fuel to Russian companies” and reiterated its commitment to the Indian market and to supplying over 7,000 domestic stations.
- The Russian energy ministry and the three Russian firms did not respond to Reuters inquiries.
Criticism & Opposition
- Officials at Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp told Reuters they have no surplus volumes to export, limiting Russia’s ability to secure the requested gasoline.
- Analysts note that even the combined imports from India, Kazakhstan and Belarus fall far short of the estimated 3 million tons per month Russia needs, casting doubt on the practicality of the procurement drive.
Conflicting Reports & Gaps
- Sources differ on the total Indian gasoline reaching Russia: one cites 60,000 tons, while another mentions only the 42,000-ton *Agni* cargo and an “unspecified quantity” on *Varg*.
- The degree to which shipments are direct sales versus trader-facilitated transfers remains unclear, as Russian firms have not confirmed final delivery terms.
Verbatim Quotes
- “Indian Oil Minister Hardeep Singh Puri said earlier this month that Indian companies were not selling fuel to Russia but it was possible that Russia purchased Indian-origin fuel from traders.” — Hardeep Singh Puri, Indian Oil Minister
- “has neither sold nor has any plans to sell fuel to Russian companies.” — Nayara Energy spokesperson
- “Nayara Energy remains committed to serving the Indian market and meeting the demand for fuels across the length and breadth of India,” — Nayara Energy spokesperson
- “At least one cargo of Indian gasoline has already sailed to Russia and more are expected, with nearly 40% of Russia's refining capacity unlikely to return for at least two months if there are no further attacks, one of the sources with knowledge of the matter said.” — source with knowledge of the matter
Why It Matters
The reversal from Russia exporting crude to India to seeking refined gasoline highlights the strategic impact of Ukraine’s campaign against Russian energy infrastructure. Continued shortages could force Moscow to broaden imports to diesel, strain its balance of payments and reshape global fuel-trade dynamics.
