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.
The weather took a sudden turn in most parts of the country, including Delhi-NCR, on Friday morni
One of the biggest films of the year, 'Pushpa 2: The Rule' is going to hit the theatres soon. The
In the Nikki Yadav Murder Case, the Crime Branch of Delhi Police is engaged in uncovering the sec
US-based crypto exchange Kraken has halted its staking service and had to pay a US$30 million fin
One after another happiness is knocking at Abhishek Malhan's house. First, he won season 1 of Bat
The Lieutenant Governor and the Delhi Government are once again at loggerheads over the issue of
The Supreme Court has again provided relief to Teesta Setalvad in a case. The apex court has exte
The trailer of Ajay Devgan's film 'Maidan' is going to be released today. Earlier, Ajay Devgan sh
A fire broke out in a camp in the Maha Kumbh (Maha Kumbh Fire) fair on Sunday evening. The flames
Actor-turned-politician Vijay has started entering Tamil Nadu politics. His party, Tamilaga Vetri
