Crude reality: Why has India ramped up imports of Russian oil ...News

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Crude reality: Why has India ramped up imports of Russian oil
New Delhi has effectively managed its oil trade with Moscow without compromising its national security, sovereignty, or alienating other partners India’s oil trade with Russia has undergone a seismic shift in the last one and a half years, spurred by the Ukraine conflict. With India’s refiners capitalizing on discounted Russian oil, Moscow swiftly became India’s primary crude source, claiming 40% of imports as OPEC’s share dwindled. Since April 2022, India’s Russian oil imports have soared more than tenfold, surging significantly after the G7 imposed a $60-per-barrel cap on seaborne Russian crude. As India, the wo

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