After two days, 25 percent of Extra Tariff of America will be implemented on India. This tariff has been imposed on purchasing crude oil from Russia. This means that now the total American tariff on India will be 50 percent. This tariff has not been imposed at all. The US and EU say that India is selling crude oil from Russia and selling the world and is helping Russia to continue the war against Ukraine. Trump and his administration have also accused India that India is working to fuel Putin’s war machine by purchasing crude oil from Russia.
Well today there will be neither the allegations of America. Nor did the questions raised on Europe’s India. Today, only the matter will be provided to the economy of India with Russian oil. When Russian Oil’s stake in India’s oil baskets was not even 2 percent when he started buying oil from Russia. It was a period of Kovid. Global economy was going through a period of crisis. India’s exports had reduced considerably. The ways of earning were very limited. In such a situation, Russian oil gave aashes to the economy of India.
India purchased and refined it at cheap prices and exported it to America and the rest of the world besides Europe. In FY 2024, this refined oil export of India was more than $ 80 billion. In such a situation, you can guess how much dandruff oil has contributed to running the economy of India. Let us also try to explain the math of India’s earnings with Russian oil with the help of data.
First thing imported
India imports crude oil before exporting refined oil to the world. Currently, the number of crude oil suppliers for India has been more than 50. In which India’s largest supplier is none other than Russia. Russian oil stake in Indian Oil Basket has been more than 40 percent. Try to explain with the data, according to Capler’s report, India has bought 2 million barrels of crude oil every day in the month of August. Which is more than the 1.6 million barrels per day of July. That too at a time when America has announced to impose 25 percent extra tariff on India.
The main reason for this increase is to reduce imports from Iraq and Saudi Arabia. According to the report, India imports every role 5.2 million crude oil daily. In which Russia’s stake in the first fortnight of August got 38 percent. The supply to India has decreased from Iraq. Where this figure was 907,000 barrels per day in July, which was reduced to 730,000 barrels per day in August. On the other hand, Saudi Arabia’s supply was seen in July 700,000 barrels per day, which was reduced to 526,000 barrels per day in August. America imported India 264,000 barrels per day and became the 5th largest supplier.
How much earn from refined oil?
On the other hand, India now started selling crude oil to the world and earned billions of dollars. This is where the troubles of America and Europe begin. According to data from Commerce and Industry Ministity, in FY 2024-25, India has earned 60.07 billion rupees i.e. 5.25 lakh crore rupees by selling refined oil to the world. By the way, this earnings are much less than the financial year 2023-24 figures.
According to the report, this figure is enough from FY 2023-24. According to the data, in the said financial year, India had earned $ 84.2 billion or Rs 7.37 lakh crore by selling refined petroleum products. This means that India has earned less than Rs 2.12 lakh crore in the financial year 2025 from the export of petroleum products. The main reason for this is the fall in the prices of global petroleum products during this period.
How much India earned by selling which petroleum products
This is so earn
According to a report in dollar business, India has refined many petroleum products and sold it to the world. In which high-speed diesel is at the top. According to the data, India exported $ 17.38 billion in FY 2025. Whereas India had exported motor spirit ie petrol $ 8.13 billion. Aviation turbine fuel ie jet fuel sold abroad and earned $ 5.33 billion. At the same time, India increased $ 1.38 billion in its earnings by selling fuel oil. The treasury of India came to $ 196.29 million by selling petroleum product Nephathha. While selling liquided petroleum gas i.e. LPG, he earned $ 37.51 million. India also sold kerosene to the world and earned $ 2 million.