August 8, 2025

NEW DELHI: The energy story is heating up like a chilli in your curry! According to fresh data from the Centre for Research on Energy and Clean Air (CREA), European Union countries are making a sizeable 23% of Russia’s income from fossil fuel exports since the Ukraine conflict began. India, in comparison, accounts for a smaller but still significant 13%. But guess what? G7+ tankers are carrying more than half of these Russian oil barrels on the high seas! Indian government sources are stirring the pot, calling out what they term the West’s ‘hypocrisy.’ How? While Europe and others secretly buy not just energy but also fertilizers, chemicals, iron, steel, and transport equipment from Russia, they loudly criticize India for securing its energy needs. A government insider, speaking on condition of anonymity, said, “These figures only vindicate India’s emphasis on ensuring for its citizens regular and affordable energy supplies.” The timing is spicy too! Just after the US doubled tariffs on Indian imports to 50% accusing India of “fuelling the Russian war machine” by buying its oil, and following the EU’s sanctions on Indian refining giant Nayara Energy, CREA’s report settles like a hot masala on the debate about Western ‘double standards.’ Here are the sizzling facts from the report: since the conflict began, Russia has earned a whopping EUR 923 billion from fossil fuel exports including oil, natural gas, coal, and refined fuels. EU countries contributed EUR 212 billion of this cocktail, while India’s tab stands at EUR 121 billion. Top buyer? China, with over EUR 200 billion! Another twist — the role of G7 and its tanker fleets is growing fast. Since June, G7+ tankers’ share in shipping Russian oil jumped from 36% to 56%. By June, more than half of Russian exported oil was on G7+ tankers, showing they followed price caps and sanction rules. India points out that buying Russian oil, which makes up about 9% of daily global supply, helped keep oil prices from boiling over. This clever price cap strategy was designed by the US and EU to block funds flowing to Moscow for war without causing an oil market shock. However, the report notes one chilly fact — Russian fossil fuel revenues fell 18% in Q2 of 2025 compared to last year, despite shipping 8% more fuel than in Q1. In short, India insists it’s playing by the rules, focusing on affordable energy for its people, while pointing fingers at the West’s own big energy dance with Russia. The global energy saga continues — with no shortage of drama and spice!

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Tags: Russia fossil fuel exports, India energy imports, Eu sanctions, G7 tanker role, Crea report, Western double standards,