• Wed. Apr 17th, 2024

India Shifts Oil Imports to US and Persian Gulf as Transportation, Payment Issues Plague Russian Import

BySamantha Jones

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

India has been one of the largest buyers of Russian crude oil despite the sanctions imposed by Western countries. However, the country is now shifting its purchases to the United States and the Persian Gulf due to transportation and payment issues. Indian refineries are increasing their purchases from these regions as a response to challenges faced in importing Russian oil.

The shift in purchasing patterns is also attributed to political considerations, as India aims to maintain good relations with Western countries. European countries have continued to import Russian oil products, but Indian refineries are now exporting refined petroleum products to Europe using the same Russian barrels that were imported, which is seen as a way to diversify their energy sources.

China has also shown demand for cheap oil, similar to India. The geopolitical landscape and economic considerations are driving changes in India’s oil purchasing patterns, with a focus on diversification and maintaining relationships with various global partners.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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