Finance
Ukraine imports Indian-origin diesel fuel after loss of key refinery, analyst says
Published by Global Banking & Finance Review®
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Ukraine imports diesel from India after losing a key refinery, with Indian diesel now holding a 10% market share. This shift compensates for reduced imports from Belarus and Russia.
KYIV (Reuters) -The loss of Ukrainian oil refineries this summer has forced traders to compensate with imports, purchasing diesel fuel even from India, which imports a significant portion of its crude oil from Russia, an analyst said at the weekend.
Russia is attempting to win its war with Ukraine in part by attacking Ukrainian oil refineries and fuel storage facilities with drones and missiles.
Ukraine uses similar tactics in its defence, and neither side has been transparent about the extent of the damage on its territory.
"In June, the (Ukrainian) Kremenchug oil refinery, (which) took dozens of cruise and ballistic missiles, was finally destroyed," Serhiy Kuyun from the Ukrainian fuel consultancy A-95 said on Facebook.
"Therefore the market rushed to buy up what was available. And what was available was India. We are not transporting it; international traders are transporting it to Turkey and Romania, and we are buying what is already available," he said.
He noted that Indian fuel meets post-Soviet, including Ukrainian, standards and said some had even been purchased by the Ukrainian defence ministry, which never comments on fuel purchases.
He did not specify import volumes but said Indian diesel unexpectedly had a market share of about 10%.
Prior to the full-scale war with Russia that began in 2022, Ukraine imported diesel fuel mainly from Belarus and Russia to compensate for the lack of domestic production. Since 2022, it has imported mainly from European countries to the west.
A-95 said that in the first half of the year, imports of diesel fuel fell by 13% year-on-year to 2.74 million metric tons.
(Reporting by Pavel Polityuk; Editing by Kevin Liffey)
Ukraine has lost key oil refineries due to attacks, prompting traders to seek diesel fuel imports from India to compensate for the loss.
The Kremenchug oil refinery was destroyed in June after sustaining numerous missile attacks, significantly impacting Ukraine's domestic fuel production.
Indian diesel fuel has unexpectedly captured about 10% of the Ukrainian market as traders rushed to buy available supplies.
Before the full-scale war with Russia, Ukraine primarily imported diesel from Belarus and Russia. Since the conflict began, imports have shifted significantly.
In the first half of the year, Ukraine's diesel fuel imports fell by 13% year-on-year, totaling 2.74 million metric tons.
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