India's Russian oil purchases nearing 2-year record
India's imports of Russian crude are likely to hit 2.15 million barrels per day in April, the highest volumes since May 2023, Bloomberg reported on April 22, citing Kpler data.
Russian oil shipments appear to be picking up pace again after months of disruptions caused by U.S. sanctions on Russia's fossil fuel exports.
India, the world's third-largest oil importer, has become the leading buyer of Russian oil products, which it purchases at a discount amid sanctions that largely cut Moscow off from the Western market.
Russia has remained the South Asian country's leading supplier for the third year in a row, Reuters reported on April 22.
The Indian market was rattled earlier this year after the sweeping U.S. sanctions in January that targeted Russia's "shadow fleet," major oil companies, and associated entities, significantly complicating Moscow's crude exports.
Despite a temporary drop, Indian imports of Russian crude began climbing again in March.
New Delhi has maintained a neutral stance on the Russia-Ukraine war, calling for a peaceful solution while fostering economic relationships with Moscow.
Oleg Sukhov
