Russia becomes India's largest oil supplier: Saudi Arabia and Iraq left behind, Pakistan is still seeking discount

Posted on 9th Nov 2022 12:56 pm by rohit kumar

In terms of supplying crude oil to India, Russia has left behind Iraq and Saudi Arabia. According to the report of Energy Cargo Tracker Vortex (ECCV), Russia supplied 9 lakh 35 thousand 556 barrels of crude oil daily to India in October.

 

This increase comes after Western sanctions on Moscow in the wake of the Ukraine war. The report further states that Iraq has supplied 20.5% of crude oil to India and Saudi Arabia 16% i.e. 36.5% of the total crude oil. While India has imported the maximum oil from Russia, Pakistan is still stuck on the demand for a discount from Russia.

 

Dawn's claim - no USA ban

According to the news of the Pakistani newspaper 'Dawn', the USA spokesperson said, America has not imposed any kind of sanctions on countries buying oil from Russia amid the Ukraine war. Hopefully, these countries will take the right decision based on their circumstances. We will continue to engage with European countries, including India, to reduce the power of Russian President Vladimir Putin in the war against Ukraine. Let us tell you that before the Ukraine war, in December 2021, Russia exported only 36 thousand 255 barrels of crude oil to India daily. Iraq supplied 1 lakh 05 thousand million BPD and Saudi Arabia supplied 952,625.

 

India benefited from the opposition of western countries

India is dependent on other countries to meet 85 percent of its petroleum needs. When the West tried to stop the supply of crude oil to Russia. Due to this, the prices of oil in the international markets jumped and Russia's economy started messing up. In such a situation, Vladimir Putin decided to make Asian countries his customers by selling oil cheaply to keep his country's economy good. India and China took advantage of this and both became the biggest customers of Russian oil. This can also be called a diplomatic victory for India.

 

Also Read: More than 100 leaders gathered to talk about climate change, what will happen if Russia-China-India stays away?

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