CREA report: India leads destinations for Russian oil despite sanctions evasion tactics

India imported 5.4 million tonnes of Russian crude oil worth €2.1 billion between January and September 2025, carried on 30 tankers sailing under false flags, according to a report by European think-tank Centre for Research on Energy and Clean Air (CREA).

The report said the shipments were part of Russia’s growing “shadow fleet”, a network of ageing tankers with concealed ownership, falsified registrations, and disabled tracking systems, allegedly used to bypass Western sanctions imposed after Russia’s full-scale invasion of Ukraine. In total, 113 Russian vessels operated under false flags during the first nine months of 2025, transporting around 11 million tonnes of crude valued at roughly €4.7 billion. As of September, there were 90 active “shadow” vessels, a sixfold increase from December 2024.

Recent data suggests a sharp slowdown in shipments to India. Between 1–17 November 2025, Russian crude loadings bound for the country fell to an average of 672,000 barrels per day, a 66 % decline from October’s level of 1.88 million barrels per day. Analysts attribute the fall to growing caution among Indian refiners ahead of U.S. sanctions on Russia’s top oil producers and the increased legal, financial, and reputational risks associated with importing oil via the “shadow fleet.”

Despite the slowdown, India remains the largest national destination for Russian crude shipped under false flags. The deliveries on 30 vessels so far in 2025 highlight the country’s central role in this covert supply chain, although recent trends indicate that regulatory scrutiny, insurance challenges, and international sanctions are beginning to curb such flows.