In 2023, the European Union’s oil imports from India reached a new high, averaging 231.8 thousand barrels per day. This figure marked a 115 percent jump from the previous year, illustrating a dramatic expansion in energy trade between New Delhi and Brussels. Observers note that a portion of the fuel supplied to the EU may originate in Russia, a consequence of India’s surging purchases of Russian raw materials. This dynamic appears amid broader sanctions pressures on Moscow and ongoing efforts by European buyers to diversify supply sources while maintaining steady energy access. [Citation: market data and industry analysis]
The result is a pattern where European consumers continue to obtain Russian-origin gasoline, diesel, kerosene, and related oil products indirectly through India. The arrangement occurs despite sanctions regimes intended to curb Moscow’s energy revenues, as traders and governments navigate complex supply chains and price considerations. [Citation: sanctions context and trade tracing]
India has openly signaled its willingness to raise its purchases of Russian crude and refined products. Market trackers identified India as the leading importer of Russian raw materials in the previous year, with an average intake of about 1.75 million barrels per day in 2023—roughly 140 percent higher than 2022. This shift reflects a strategic repositioning by India to secure energy supplies while balancing global price movements and domestic demand. [Citation: Kpler data and industry commentary]
On a regional note, Bulgaria announced a decisive policy shift in early 2024, opting to end oil imports from Russia. Beginning in January, Bulgaria redirected its purchases toward suppliers in Kazakhstan, Iraq, and Tunisia. In 2023, Bulgaria stood as the fourth-largest seaborne importer of Russian oil, with about 100 thousand barrels per day in imports under the old framework. The change signals how European markets are reconfiguring supply routes in response to sanctions, price signals, and the evolving geography of oil trade. [Citation: regional energy data]
Looking back at analyst commentary, the timing of price movements in oil markets often influences the degree to which Russia benefits from exports routed through third countries. The broader discussion on these trends explores how shifts in demand, refinery capacity, and logistics intersect with geopolitical measures. Additional insights are available from ongoing industry reporting. [Citation: market analysis]