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Breaking from Tradition: India’s Shift Away from Russian Crude Oil in Light of Sanctions and Economic Considerations.

BySamantha Nguyen

Apr 2, 2024
The largest oil buyer in Russia abandoned Putin

Despite facing sanctions, India has been one of the largest buyers of Russian crude oil. However, the country has now started to reduce its purchases. The shift in purchasing patterns is due to transportation and payment issues, as well as a desire to diversify and maintain relationships with various global partners.

Indian refineries are shifting their purchases away from Russia and towards the United States and the Persian Gulf. Indian companies, including state-owned Bharat Petroleum and Indian Oil, as well as private processor Reliance Industries, have significantly increased their purchases from the United States in response to these challenges.

Russian exports of petroleum products have decreased due to logistical challenges and political considerations. This shift in purchasing behavior is seen as a response to the difficulties faced by Indian refineries in importing Russian oil. Despite the sanctions against Russia, European countries have continued importing Russian oil products. However, Indian refineries are exporting refined petroleum products to Europe using the same Russian barrels in which the oil was imported, showing a demand for cheap oil like China.

Overall, India’s geopolitical landscape and economic considerations are driving changes in its oil purchasing patterns, with a focus on diversification and maintaining relationships with various global partners.

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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