According to two industry sources cited by Reuters on July 1st, Russia is importing gasoline from India via sea transport in order to alleviate the fuel shortages caused by attacks on its energy infrastructure in Ukraine.
Due to supply shortages, fuel shortages are occurring in several regions across 11 time zones in Russia. In some areas, rationing systems have been implemented, and there are long queues at gas stations. Gas prices have also reached record highs.
On Tuesday, the Kremlin stated that Russia is in contact with other countries and discussing the possibility of importing fuel at acceptable prices.
Russian Energy Ministry and Indian Petroleum Ministry did not respond immediately to request for comment.
A industry source said that at least 60,000 tons of gasoline have been shipped from India to Russia. Another source reported that two oil tankers are already en route, carrying between 30,000 and 40,000 tons of cargo each.
According to a third source, Russia plans to import a total of 400,000 tons of gasoline per month from several countries including Belarus. Belarus has already started exporting fuel to Russia.
During the peak summer season, the consumption of gasoline in Russia is at least 110,000 tons per day.
It is still unclear which Indian refinery is supplying gasoline to Russia.
Russian President Putin admitted during a meeting with government ministers and other officials on Sunday that Ukrainian drone attacks had affected oil refineries, resulting in fuel shortages in some areas. However, he said Russia is taking measures to address this issue.
According to Reuters calculations and sources, Belarus supplied over 70,000 tons of gasoline to Russia via railway in the first half of June, which is almost three times the amount in May.
Last week, the Russian parliament passed a tax law amendment aimed at addressing the fuel shortages caused by Ukrainian drone attacks. The amendment provides subsidies for fuel imports, and these subsidies are linked to the costs and prices of fuel delivered in India.
Data shows that in June, India’s imports of Russian crude oil reached a record high. This was due to refiners purchasing large quantities of Russian crude oil in order to cope with the supply disruptions caused by the closure of the Strait of Hormuz.
According to Kpler data, in June, Russian crude oil accounted for more than half of India's total imports, compared to 36.5% in May. As the world's third-largest oil importer, India imported approximately 2.7 million barrels of crude oil from Russia daily in June.
