India Boosts Russian ESPO Oil Imports Amid Strait of Hormuz Disruptions

Key Facts

1Russian ESPO crude exports from the port of Kozmino rose by 6% in the first seven months of 2026.

2India increased its purchases of Russian crude as Middle East deliveries slumped due to the closure of the Strait of Hormuz.

Amid escalating geopolitical tensions reshaping global energy flows, India has significantly ramped up its intake of Russia's Far East ESPO crude blend. According to reports, exports of ESPO from the port of Kozmino rose by 6% during the first seven months of 2026. This pivot comes as Indian refiners seek alternatives to Middle Eastern deliveries, which have slumped following the closure of the Strait of Hormuz and ongoing regional instability.

Per market data, this logistical shift was facilitated by a temporary pullback in Chinese spot market activity, allowing India to fill the supply gap. While China remains the primary consumer of ESPO crude, the disruption of traditional maritime routes has forced a strategic redirection of trade. This trend aligns with broader energy market volatility, noted alongside the U.S. EIA Weekly Petroleum Report on August 26, which showed a stock change of 0.095 million barrels.

Looking ahead, market participants are closely monitoring the stability of global trade routes and potential catalysts in upcoming economic data. With current instrument prices unavailable for this snapshot, the focus remains on geopolitical developments and trade balance figures that could further influence crude oil premiums and delivery timelines in the Asian market.