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NEW DELHI: India’s import of Russian crude recorded a sharp 29% month-on-month decline, falling to the lowest volumes since implementation of the price cap policy, but is making a strong turnaround in January this year, Centre for Research on Energy and Clean Air (CREA) said in its monthly analysis of Russian fossil fuel exports for…
India has stood its ground, continuing buying crude from Russia, despite repeated objections from US President Donald TrumpIn October, crude oil worth $2.5 billion flowed into the country from Moscow, making it the world’s second-largest buyer. India was second only to China, which purchased $3.7 billion, according to the Helsinki-based Centre for Research on Energy…
India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions.According to maritime intelligence…
