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India imported crude oil worth $2.8 billion from Russia in July, claims report
Russian Oil Import: According to a report, Russia has emerged as the largest supplier of crude oil to India. This oil is converted into fuels like petrol and diesel in refineries. Russian oil was available at a discount after some European countries refrained from buying from Russia after the invasion of Ukraine in February, 2022.
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“India imported crude oil worth $2.8 billion from Russia in July, claims report”
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en.sangritimes.com
15 Aug 2024
India, the world's third-largest oil consumer and importer, bought crude oil worth $2.8 billion from Russia in July. In this respect, India is second only to China, which remains the largest importer of Russian oil.
According to a report, Russia has emerged as the largest supplier of crude oil to India. This oil is converted into fuels like petrol and diesel in refineries. Russian oil was available at a discount after some European countries refrained from buying from Russia after the invasion of Ukraine in February 2022.
Crude oil imports from Russia were less than one percent of total imported oil before the Ukraine war. This has now increased to nearly 40% of India's total oil purchases.
