The Reliance‑operated Jamnagar refinery moved 6 of the 7 Russian‑crude‑derived cargoes unloaded at EU ports in September, a total of €667 million, while Australia, the United States and New Zealand bought €168 million, €154 million and €19 million respectively – a combined €1 billion in September.
The Centre for Research on Energy and Clean Air (CREA) calculated that €295 million of those exports had been refined from Russian crude, a 43 percent jump from August. The EU’s January 2026 ban on oil products refined from Russian crude remains in force, but it exempts net crude exporters, allowing a country that exports more crude than it imports to ship refined Russian‑origin oil.
Jamnagar accounted for the largest share of the group’s US exports, with €122 million worth of cargoes, and it handled an 104,000‑tonne gasoil shipment still en route to Rotterdam. Exports to EU ports from refineries processing Russian crude rose 80 percent in September, with Italy receiving three cargoes, Romania two, and Spain and Cyprus one each.
While Indian exports grew, import volumes slipped 13 percent in September. Jamnagar’s crude intake fell 27 percent from August, the Indian Oil Corporation’s Paradip refinery saw a 21 percent drop, and Nayara Energy’s Vadinar refinery slid 8 percent. Mundra Oil Terminal’s intake fell 74 percent, but it received 570,000 tonnes of Russian crude in September after none in August, making it an outlier.
India remains Russia’s second‑largest fossil‑fuel buyer, spending €4.1 billion on Russian hydrocarbons in September – €3.6 billion on crude, €309 million on coal and €161 million on oil products. The discount on Russian crude, which averaged $90.7 a barrel in September, kept it $23 below Brent, attracting Indian refineries after Western buyers pulled back post‑2022 invasion.
Kpler analysts expect India’s Russian crude imports to stay between 1.8 million and 1.9 million barrels per day in October. The EU’s loophole and India’s continued reliance on Russian crude have prompted CREA to call for refinery‑level bans, a move that could tighten the bloc’s sanctions regime by the end of the year.