Refineries in India, along with facilities in Turkiye and Brunei, exported oil products worth 1 billion euros (approximately $1.2 billion) to sanctioning countries in September, marking a 43% increase from August. This data comes from the Centre for Research on Energy and Clean Air (CREA).

Key Highlights

  • Reliance Industries Ltd's Jamnagar refinery in Gujarat was responsible for six of the seven cargoes that were unloaded at EU ports that month, despite the bloc's ban on fuel derived from Russian crude.
  • The report indicates that the EU imported products valued at 667 million euros, while Australia received 168 million euros, the US 154 million euros, and New Zealand 19 million euros.
  • Of the total exports, 295 million euros worth was refined from Russian crude.

Jamnagar's Role

The Jamnagar refinery also accounted for the largest US-bound exports from the group, valued at 122 million euros. Notably, 32% of its imports from July to September were sourced from Russian crude.

EU Shipments

In September, Italy received three of the seven shipments destined for the EU, while Romania received two, and Spain and Cyprus each received one. The value of exports reported as destined for EU ports from refineries using Russian crude surged by 80%, including a significant 104,000-tonne cargo of gasoil (diesel) from Jamnagar, which is still en route to Rotterdam.

Future Implications

The EU has set a ban on imports of oil products refined from Russian crude, effective from January 2026. Although the ban exempts net crude exporters, CREA suggests that this exemption creates a loophole, as it does not prevent a country from refining Russian-origin crude. The report advocates for the ban to be applied at the refinery level, prohibiting products from any facility that has processed Russian crude in the previous six months, regardless of the product's declared origin.