Скачать или смотреть # CRITICAL: What Trump Demands India MUST Stop Buying From Putin

‘India Won’t Buy Russian Oil’: Trump Reiterates Despite 'Defiant' India’s Fact-check, Putin Unnerved

India’s oil trade with Russia & the world





India, being the world's third-largest oil-importing and consuming nation, heavily relies on imports to meet its crude oil needs, with 87 per cent of its approximately 5.5 million barrels per day consumption coming from overseas.

Historically, India procured approximately 66 per cent of its crude oil requirements from Middle Eastern nations, primarily Iraq, Saudi Arabia and the UAE.

Following Western sanctions on Moscow due to its war with Ukraine in February 2022, India began acquiring Russian oil at discounted prices, as Western nations avoided Russian supplies.

The substantial price advantage was the key factor in India's decision to purchase Russian oil. While discounts initially reached $19-20 per barrel in 2023, they have subsequently decreased to $3.5-5 per barrel.

As a result, Russia's contribution to India's total oil imports rose significantly from 1.7 per cent in 2019-20 (FY20) to 40 per cent in 2023-24, establishing Russia as India's main oil supplier.

India's Russian oil imports reached 88 million tonnes in FY25, a significant part of its total imports of 245 million tonnes.

Also read:

Why India can’t abruptly stop Russian oil imports

India's oil infrastructure continues to rely heavily on Russian crude.

The substantial price advantages make it commercially advantageous for refiners to maintain these purchases, the Kpler analysis says. Though, notably these discounts have come down now.

The economic rationale remains sound. Despite reduced discounts compared to 2023, Russian oil varieties, particularly Urals, continue to offer Indian refiners competitive advantages through favourable landed costs and superior GPW margin yields.

India’s openness to diversify & buy US energy

What are India’s alternatives to Russian oil?

#IndiaOil #TrumpClaims #RussiaUkraineWar #EnergyDependence #GlobalTrade #ModiDiplomacy