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Russia pulls off revolution in India's overall crude oil basket

Oil supplies from Russia surged after the G7's stringent sanctions, relegating traditional suppliers Iraq and Saudi Arabia to second and third place

Oil
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S Dinakar
If the US-led G7 nations thought that tightening the screws on supplies of Russian crude oil would hurt shipments of discounted fuel to India and China, they were mistaken. Russian crude supplies are turning what were initially opportunistic purchases into a permanent fixture for India.

India imported 57 million barrels of Russian crude oil in March (1.8 million barrels a day), on a par with record February purchases, according to data from Paris-based market analytics firm kPler. Russia led the pack of crude suppliers to India in March, supplying twice as much crude to India as Iraq, once India’s biggest

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First Published: Apr 02 2023 | 6:54 PM IST

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