Russia’s oil product exports hit all-time low as India’s Russian crude imports hit record highRussia’s oil product exports hit an all-time low; meanwhile, India records its highest level of imported Russian crude ever. However, this masks a 21% fall in pipeline crude export earnings, offset by a 7% rise in seaborne crude export revenues. Russia’s LNG export revenues fell sharply by 36% month-on-month, while Belgium sourced all of its LNG imports in July from Russia. Despite the EU’s ban on oil products made from Russian crude, 18 shipments from refineries processing Russian crude were unloaded at EU ports in July — more than double the previous month’s total. Russia’s share of China’s seaborne crude oil imports rose to 25%, up from 13% in July 2025.