© thehindu.comUS extends waiver on sanctions for Russian seaborne oil by 30 days
India’s rising dependence on Russian oilIndia has become one of the biggest buyers of discounted Russian crude since Western sanctions on Russia began. New Delhi imported a record 2.25 million barrels per day (bpd) from Moscow in March, data from shipping analytics firm Kpler showed. This was nearly double February levels. Russian oil now makes up about 50% of India’s total crude imports.
Arrivals remained high in April at around 2.1 million barrels per day, Reuters reported. The mid-April dip was linked to supply disruptions after Ukrainian drone strikes on Russian export facilities in late March.
India’s responseIndia has consistently maintained that its crude purchasing decisions are based on price and supply needs. Refiners have continued sourcing Russian crude through trading channels that comply with sanctions frameworks.