India has spent EUR 112.5 billion (approximately Rs 1.5 lakh crore) on purchasing crude oil from Russia since the beginning of the Ukraine war, according to a report released by the Centre for Research on Energy and Clean Air (CREA) on Thursday.
The report details payments made to Russia for fossil fuel imports since February 24, 2022.
CREA estimated that Russia has earned EUR 835 billion in revenue from fossil fuel exports since the start of the conflict. China was identified as the largest buyer of Russian fossil fuels, with imports amounting to EUR 235 billion. This included EUR 170 billion for oil, EUR 34.3 billion for coal, and EUR 30.5 billion for gas.
According to CREA, India purchased Russian fossil fuels worth EUR 205.84 billion from the start of the war until March 2, 2025. Of this, EUR 112.5 billion (USD 121.59 billion) was spent on crude oil, which is refined into petrol and diesel, and EUR 13.25 billion on coal imports.
India, which relies on imports for over 85 per cent of its crude oil needs, spent USD 232.7 billion on crude oil imports in 2022-23 (April 2022 to March 2023) and USD 234.3 billion in 2023-24. In the first 10 months of the current fiscal year, the country has spent USD 195.2 billion on crude oil imports.
Also Read: Rahul Gandhi to Visit Gujarat on March 7-8 for Key Congress Meetings
