India boosts ESPO crude imports as Hormuz closure reroutes trade

India increased purchases of Russia's ESPO crude blend in Jan-Jul as China reduced spot buying and Middle East deliveries fell due to the Strait of Hormuz closure. Total ESPO exports from Kozmino rose 6% year-on-year, per Kommersant citing Argus. This marks a structural shift in crude flows, with India absorbing displaced Russian barrels amid war-related trade disruption.