India bought the maximum crude oil from Russia in December 2022. Earlier this happened in October and November also. According to energy cargo tracker Vortexa, India bought an average of 1.19 million barrels of crude oil from Russia every day in December. A year before this, in December 2021, India used to buy only 36,255 barrels of oil per day from Russia. That is, the purchase of oil from Russia increased by about 32 times in a year.
Import of 25% crude oil from Russia
India now imports 25% of its oil requirement from Russia. Till March 2022, India used to buy only a very small part of its requirement from Russia. But from April the situation started changing. In October, Russia overtook Iraq and Saudi Arabia in terms of selling oil to India.
Increase due to the Russia-Ukraine war
The biggest reason for this increase is the Russia-Ukraine war. Actually, after the war America and European countries imposed sanctions on Russia. After which Russia started giving a discount on crude oil. India also took advantage of the opportunity and started buying large quantities of oil from Russia. Like India, China bought a large amount of crude oil from Russia during this period.
Oil purchases not less than the price cap
The G7 countries imposed a price cap on Russian crude oil in early December. Under this, oil could be bought from Russia only for $ 60 / barrel or less. This price cap has not had any impact on India's oil purchases from Russia. In December, for the first time, India bought more than one million barrels of oil per day from Russia. According to industry sources, India is getting Russian oil at a price lower than the price cap.
SC on PFI Popular Front of India (PFI), an organization banned under UAPA for anti-national activ
Israel-Hamas Conflict: Indian woman injured in Hamas attack on Israel, 10 Nepali citizens killed
An Indian woman is also among those injured in the Hamas terrorist attack on Israel. The woman is
US Airstrike on Syria Amid the Israel-Hamas war, the US Army this morning carried out airstrikes
Chennai Super Kings returned to winning ways in the IPL by defeating Kolkata Knight Riders by sev
Train Accident: Relief work completed, operations will resume on the railway track by 4 pm
The death toll in the train accident in Vijayanagaram, Andhra Pradesh has reached 13 so far. East
The bitterness of relations between India and Pakistan was also seen on the cricket field when In
Pakistan connection in Baba Siddique murder case? Weapons came from across the border!
During the investigation into the murder of NCP leader Baba Siddique, the police have found a big
The Artillery Regiment of the Indian Army, from which the enemy's army is in awe. Now women are a
Ram Rahim's parole is over. Before returning to jail, Ram Rahim openly praised PM Narendra Modi
Bangalore police reached Jaunpur on Thursday in the case of Atul Subhash's suicide. A four-member
