While former U.S. President Donald Trump loudly declares that “India will no longer buy Russian oil,” the reality on the ground tells a very different story. India continues to purchase discounted Russian crude and Europe, ironically, continues to buy refined fuel made from it.
In a striking example of global energy irony, Spain’s diesel imports from India have exploded by a staggering 46,000% since the European Union imposed sanctions on Moscow.
The Data That Shocked Analysts
According to trade data:
In September 2024, Spain imported just $1.1 million worth of petroleum products from India.
After the EU’s Russian oil sanctions, that figure skyrocketed to $513.7 million.
That’s a 61,000% month-on-month and 46,000% year-on-year increase a surge analysts have called nothing short of a “shockwave.”
Why Spain Needs Indian Fuel
Several overlapping factors have created a perfect storm for Spain’s dependency on Indian diesel:
1️⃣ Refinery shutdowns: Spain’s domestic refineries (Repsol, Cepsa) have reduced output due to EU climate and tax regulations.
2️⃣ Tourism boom: Post-pandemic travel demand has surged, sharply increasing the need for aviation turbine fuel (ATF) and diesel.
3️⃣ Sanctions policy: The EU banned direct imports of Russian crude oil.
4️⃣ Cost advantage: India offers cheaper refined fuel much of it derived from discounted Russian crude.
Sanctions That Backfired
The EU’s attempt to isolate Russian energy has effectively backfired.
By banning direct imports from Moscow, Brussels inadvertently turned India into a major refining hub buying Russian oil, processing it, and selling the refined products right back to Europe.
The result:
Europe gets the fuel.
India gets the business.
Russia keeps selling oil.
Only the EU’s narrative loses.
While the Netherlands reduced imports from India after the sanctions, Spain more than compensated with massive new purchases meaning overall EU dependency on Indian diesel has actually increased.
In the end, energy security trumped political statements.
India’s Calm Response to U.S. Pressure
Responding to Trump’s comments, India’s Ministry of External Affairs (MEA) reaffirmed its position clearly:
“India’s oil sourcing depends on national energy security and global market dynamics not on external pressure.
Translated, that means India will continue buying oil from wherever it deems necessary.
Indian Oil Corporation (IOC) has also confirmed it will keep importing Russian crude from non-sanctioned suppliers.
Global Oil Ignores Political Noise
Interestingly, Iran’s oil exports have also hit record highs despite U.S. sanctions reaching 66.8 million barrels in October, with 90% sold to China, and additional exports to the UAE, Singapore, and Yemen.
The global oil market, it seems, pays little attention to political posturing.
The Real Geopolitics of Oil
Here’s the unfiltered truth:
🇮🇳 India continues buying Russian oil.
🇮🇳 India continues refining it.
🇪🇺 Europe continues buying India’s refined fuel.
🌍 Global trade continues ignoring political theatrics.
In effect, India has emerged as a crucial energy hub, quietly powering Europe during its most vulnerable moment and proving once again that in the real world of geopolitics:
Reality > Rhetoric
Economics > Politics
Energy Security > Hypocrisy
