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.
AFG vs IRE: Afghanistan could not celebrate Rashid Khan's return, Ireland washed out in 1st T20I
Thanks to the excellent bowling of leg spinner Ben White (4 wickets) and fast bowler Josh Little
There was a stir in the film circles when the news of the separation of B-town star couple Govind
The Covid formula also came in handy in boosting the morale of the 41 laborers trapped in the tun
Several families have been displaced following protests in Murshidabad over the Waqf (Amendment)
Prime Minister Narendra Modi has said that by the year 2030, India will have achieved 500 GW (fiv
New Delhi. Delhi CM Arvind Kejriwal will not appear before the Enforcement Directorate even today
Dates for the Bihar Assembly Elections 2025 may be announced today. This time, the election is ex
Pawan Modi, father of deceased engineer Atul Subhash, said on Monday that he will also file a cas
In a joint statement by US President Donald Trump and Prime Minister Narendra Modi, it has been a
The death toll in the devastating landslide that occurred in Kerala's Wayanad after heavy rains i
