India Dethrones China as Russia's Top Oil Buyer, Grabs 44% of New Delhi's Imports | Details

Video Credit: Oneindia

Published on August 24, 2024 - Duration: 04:07s

India Dethrones China as Russia's Top Oil Buyer, Grabs 44% of New Delhi's Imports | Details

India has overtaken China to become the largest importer of Russian oil, marking a significant shift in global energy dynamics.

In July, Russian crude made up 44% of India’s total oil imports, reaching a record 2.07 million barrels per day.

This surge in imports is driven by steep discounts offered by Moscow as it pivots away from Western markets due to sanctions related to the Ukraine conflict.

As China reduces its Russian oil intake, India has stepped in, reshaping trade routes and solidifying its position as a key player in the global oil market.

#India #IndianRussianOilImports #IndiaCrudeOilImports #IndiaRussiaRelations #PMModi #VladimirPutin #OilImports #Russia #EnergyShift #GlobalTrade #IndiaChina #CrudeOil #EnergyMarket #Geopolitics #Sanctions #RussianOil #NewDelhi #OilDemand #GlobalEconomy #EnergyCrisis

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