In November 2025, the global map of fossil fuel trade continued to shift under the pressure of sanctions, diplomacy, and persistent energy demand. According to the Helsinki-based Centre for Research on Energy and Clean Air (CREA), India emerged as Russia’s second-largest fossil fuel buyer, highlighting how Asian demand continues to underpin Moscow’s energy revenues despite Western restrictions.
China remained the largest global buyer of Russian fossil fuels, accounting for 45% of Russia’s export revenues from the top five importers, amounting to EUR 5.4 billion. CREA data showed that crude oil made up 58% of China’s purchases, followed by coal at 16% and pipeline gas at 8%, with refined oil products and LNG comprising the remainder. However, China’s seaborne crude imports from Russia declined by 18% month-on-month, even as its overall crude imports reached their highest level since August 2023. Lost Russian volumes were largely replaced by increased shipments from Saudi Arabia and Oman.
India, meanwhile, strengthened its role as a key pillar of Russia’s energy exports. CREA estimates that India imported EUR 3.3 billion worth of Russian hydrocarbons in November, with crude oil accounting for 79% of the total, or EUR 2.6 billion. Coal and oil products made up the rest. India’s Russian crude imports rose by 4% month-on-month to their highest levels in five months, even as total import volumes remained stable.
The increase was driven primarily by India’s state-owned refineries, which increased Russian crude purchases by 22% in November. According to CREA, this followed steep discounts on Russian Urals crude after US Office of Foreign Assets Control (OFAC) sanctions took effect, alongside political assurances exchanged by Indian and Russian leaders on uninterrupted oil supplies. Analysts suggest imports could rise further in December as cargoes loaded before the sanctions continue to arrive.
Turkiye ranked as the third-largest buyer, importing EUR 2.7 billion of Russian hydrocarbons, though its crude and oil product imports fell sharply in November. The European Union followed as the fourth-largest importer, relying mainly on Russian LNG and pipeline gas, while South Korea remained fifth, driven largely by coal imports.
CREA’s analysis underscores how sanctions have redirected, rather than halted, Russian energy flows. For India, discounted Russian oil has become both an economic opportunity and a strategic lever in a fragmented global energy market.