Is India's Reliance on Russian Oil Imports Reaching a Limit
News 18India’s imports of oil from Russia reached a new height as New Delhi’s daily volumes climbed to 2.2 million barrels a day in June. News18 takes a look at India’s oil trade with Russia and the future possibilities: Rapid Rise of Russian Oil India, the world’s third largest consumer of crude, bought nearly 2 million barrels per day of Russian crude in June, which was the highest for the country. However, the recent trade data shows that India’s June imports of Russian oil exceeded its combined purchases from Iraq and Saudi Arabia, the second and third biggest sellers to New Delhi. While Russia supplied about 42% of India’s crude oil imports, the Middle East countries’ share rose to about 41% after slipping in the previous three months. India increased supply of Russian oil imports since Russia began selling it at a discount following western sanctions in the wake of the Ukraine war last year as Moscow wanted to plug the gap in its energy exports.