China's Russian oil purchases squeeze Indian refiners as Hormuz flow stays below prewar levels

August 20, 2026 at 08:53 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

China is increasing Russian oil purchases to offset Middle East supply disruptions, tightening Indian refiners' access to Russian crude. Kpler estimates India's August Russian oil imports at 1.87 million barrels per day, down from 2.79 million barrels per day in July. China's Iranian oil imports have fallen to an estimated 340,000 barrels per day in August, about a third of the March level before U.S. and Israeli strikes.

Key Facts

Kpler estimates India's August Russian oil imports at 1.87 million barrels per day, down from a record 2.79 million barrels per day in July.
Kpler estimates China's seaborne Russian oil imports at about 1.25 million barrels per day in August, slightly below July's 1.423 million and among the strongest monthly volumes since April.
Kpler estimates China's August Iranian oil imports at about 340,000 barrels per day, roughly one-third of the 1.14 million barrels per day imported in March.
Before the conflict, nearly 20% of world oil and refined products moved through the Strait of Hormuz; volumes in recent weeks have partially recovered but remain significantly below prewar levels.

China-India competition for Russian crude

China is increasing purchases of Russian oil, including from European ports, to offset Middle East supply disruptions, complicating Indian access to Russian crude. India in recent months had significantly raised Russian oil buying, helping offset declines from other regions and restrain global price growth. Kpler estimates India's August Russian oil imports at 1.87 million barrels per day, down from 2.79 million barrels per day in July. China's August seaborne Russian oil imports are estimated at about 1.25 million barrels per day, slightly below July's 1.423 million but ranking with July as the strongest months since April.

Iranian crude loss and Hormuz disruption

China has remained one of the largest buyers of Russian and Iranian crude even after U.S. and other Western sanctions. After U.S. and Israeli air attacks began on February 28, Tehran restricted vessel passage through the Strait of Hormuz using missile and drone strikes. Chinese imports of Iranian oil fell to about 340,000 barrels per day in August from about 1.14 million barrels per day in March, according to Kpler. Before the conflict, nearly 20 percent of world oil and product movements passed through the strait; weekly volumes have partially recovered but remain significantly below prewar levels.