New Delhi: Russia accounted for nearly 30% of the crude oil imported to India in October, and remained India’s top source for oil imports, according to official data. “Overall, in the April-October period, India’s crude import bill actually fell 19.53% y-o-y to $76.57 billion. But imports from Russia have increased 83.95% in the same period to $26.9 billion,” Livemint reported. Before the war in Ukraine began, Russia accounted for only 2% of India’s total oil imports, behind Iraq, Saudi Arabia and the UAE. But after the war and US-led sanctions on Russia, Russia offered big discounts on oil, up to $30 per barrel.

Source: Mint December 22, 2023 08:47 UTC