India turns out as largest importer of Russian oil despite western pressure to curb dealings with Russia
According to reports, India is now the largest importer of Russian crude oil. Previously in the month of July, India imported 1.17mbd of Russian oil, which surpassed China in the three weeks up to 24 July. It was expected back then that India will surpass China by the second week of August, 2022.
Experts estimated in July that India’s crude oil import would go over 1mbd again in the second week of August. The assumption turned out to be fact in latest turn of events in the oil market. Reports saw the price of oil being driven up by the competition between China and India previously. This happened as export volumes were increasing rapidly.
In the financial year 2020-21, the leading exporter of oil to India was Iraq. Now Russia stands at that position.
The fact gives the world to view the matter in various perspectives. A section of the world expected India to limit down their geo political relations with Russia, during the course of the Russia-Ukraine war. However, India, despite facing pressure from the west maintained strategic approaches in such times.
Recently Samuel Ramani, the author, twitted the fact about India being the largest importer of oil from Russia. He also stated that Indian officials’ adhere to not caving to Western pressure about commercial dealings with Russia.
India is now the world's largest importer of Russian oil
India's upsurge in Russian oil purchases, which have leapfrogged China's, comes as Indian officials insist that they will not cave to Western pressure about commercial dealings with Russia
— Samuel Ramani (@SamRamani2) August 12, 2022