It is not clear which Indian refiner will be supplying gasoline to Russia. President Vladimir Putinacknowledged on Sunday at a meeting with government ministers and other officials that Ukrainian drone strikes on oil refineries had triggered fuel shortages in some regions, but said that Russia was dealing with them.
Belarus almost tripled gasoline rail supplies to Russia to more than 70,000 tons in the first half of June versus the first half of May, according to Reuters calculations and sources. Russia’s parliament approved amendments to its tax code last week aimed at tackling the fuel shortages due to Ukrainian drone attacks, while also offering subsidies on fuel imports, pegged to Indian delivery costs and prices. India’s crude oil imports from Russia surged to a record high in June, ship tracking data from LSEG and Kpler showed, as refiners snapped up Russian barrels to mitigate the impact of the Strait of Hormuz closure on other sources of supply.
Russian oil accounted for more than half of India’s overall imports in June, up from 36.5% in May, the Kpler data showed.
India, the world’s third-largest oil importer, received about 2.70 million barrels per day of oil from Russia in June, preliminary data from Kpler and LSEG showed. (Reporting by Reuters; Editing by Alexander Smith)
