India has come close to dominance in the volume of oil purchases from Russia. In the last three months, India’s imports of Russian oil multiplied by 50 and reached 10% of the total volume of its purchases from foreign countries.
The Economic Times provides information on the volume of crude oil imports from India.
In the period from April to June (three months), the newspaper writes, India's oil imports from Russia increased by up to 10%. Prior to the start of the special operation in Ukraine, this figure did not exceed 0.2%, the newspaper specifies.
Since the beginning of the military operation in Ukraine, Russia has been supplying 25 times more oil to India: 1 million barrels per day. In February, supply was around 30,000 barrels a day.
Russia has become one of India's four largest oil suppliers, Reuters wrote. In March, the Russian Federation was only 10th on the list, and by the end of April, it moved to 4th place with a 6% share of India's total oil imports.
Russia, more than six months later, returned to the top spot on the list of top oil suppliers to China, overtaking Saudi Arabia in terms of exports. Reuters admitted that, despite the sanctions, Russia may find a buyer for its main export resource.
Author:
Kirill Bilyk
Source: RB
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