Russia’s oil exports shift toward the East as China increases purchases while India reduces imports

Russian Oil and Gas Export Trends in December

According to the Finnish Centre for Research on Energy and Clean Air's recent monthly analysis, Russia's crude oil shipments to China surged by 23% compared to the previous month. In contrast, deliveries to India dropped by 29% over the same period.

This significant uptick in oil exports to China during December contributed to an overall 11% rise in Russia's total oil exports, as highlighted by CREA. China notably increased its purchases of Russian oil, with imports of ESPO crude reaching their highest level in four months.

Meanwhile, India reduced its Russian crude imports last month, partly due to concerns over potential new U.S. tariffs. This led to India's intake falling to its lowest point since the G7 introduced a price cap on Russian oil insured by Western companies.

Despite this decline, a mid-December Reuters estimate indicated that Russian oil shipments to India remained relatively strong, averaging over 1 million barrels per day. However, this figure represented a steep decrease from November's daily average of 1.77 million barrels, as reported by Oilprice.com.

Liquefied Natural Gas Exports to Europe

Russian liquefied natural gas (LNG) exports to Europe also saw notable growth. The Centre for Research on Energy and Clean Air reported that France increased its Russian LNG purchases by 18% in December, while Spain's imports rose by an impressive 27%. Despite these increases, all EU countries are required by new regulations to halt Russian LNG imports by the end of the year. These substantial gains pushed total Russian LNG exports up by 16% month-on-month, marking the highest level recorded in 2025.

Revenue from Russia's overall LNG exports climbed by 13% in December. In contrast, income from crude oil exports fell by 12%, a decline largely attributed to a 16% drop in revenue from seaborne shipments, which was itself driven by a 12% decrease in seaborne export volumes, according to CREA.

By Irina Slav for Oilprice.com