Economy, Banking and Finance · 31 August 2026

India Supplies 1 Million Barrels of Petrol to Russia in Two Months

Exam-focused facts from the 31 August 2026 current affairs briefing.

Key facts

  • Russia's seaborne gasoline imports surged to a record 125,000 barrels per day in August, equivalent to 470,000 tonnes.
  • India supplied as much as 1 million barrels of petrol to Russia in the last two months.
  • India's purchases of Russian crude hit a record high of over 2.6 million barrels per day in June and July.
  • The surge in Russian fuel imports is attributed to Ukrainian drone attacks on refineries.
  • The U.S. Senate is fast-tracking a bill that could impose 100% tariffs on India for its Russian oil imports.