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Reuters: India's Russian oil imports in April highest in 9 months

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Reuters: India's Russian oil imports in April highest in 9 months
Photo for illustrative purposes. The Russian oil tanker Crius waits for a cargo of oil in Ceuta, Spain, on March 5, 2023. (Antonio Sempere/Europa Press via Getty Images)

India's imports of Russian oil rose to a nine-month high after shipments from non-sanctioned tankers of the Russian Sovcomflot company resumed, Reuters reported on May 21, citing data from shipping and trade sources.

Indian buyers briefly stopped accepting shipments from Sovcomflot earlier this year after the U.S. designated the company and 14 of its tankers as in breach of sanctions.

India has become a key buyer of Russian oil after Western trade restrictions, imposed over Russia's full-scale invasion of Ukraine, forced Moscow to pivot to other markets.

Reuters wrote that in the first month of the fiscal year 2024/25, Indian refineries imported almost 1.8 million barrels per day of Russian oil, an increase of about 8.2% compared to the previous month.

This further increased Russia's share in India's overall oil market, while imports from Iraq and Saudi Arabia dropped.

Bloomberg reported on May 21 that the Indian government made a rare request to its oil refiners and private processor Reliance Industries Ltd. to lock in at least a third of their contracted supply from Russia under a long-term deal.

New Delhi has maintained a vibrant economic partnership with Moscow amid the all-out war against Ukraine, much to the dismay of Western countries.

Sanctions for show: Russian oil sales to China, India single main driver of Ukraine invasion
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Martin Fornusek

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Martin Fornusek is a reporter for the Kyiv Independent, specializing in international and regional politics, history, and disinformation. Based in Lviv, Martin often reports on international politics, with a focus on analyzing developments related to Ukraine and Russia. His career in journalism began in 2021 after graduating from Masaryk University in Brno, Czechia, earning a Master's degree in Conflict and Democracy Studies. Martin has been invited to speak on Times Radio, France 24, Czech Television, and Radio Free Europe. He speaks English, Czech, and Ukrainian.

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