While the tap goes elsewhere, Russian oil flow from Russia to India is increasing strongly

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The share of Russian oil has risen to 10 percent of total Indian oil imports since April. That is a strong increase, compared to the 0.2 percent in the previous 12 months.

evdgBron: BELGIAN

Friday 24 June 2022 at 09:02

The financial news agency Bloomberg reported on the figures on Friday, on the authority of an Indian government official.

The rise has made Russia one of the top ten oil suppliers to India, the third largest oil consumer.

India and China have become the largest buyers of Russian oil. They are taking advantage of cheap barrels as international prices and the cost of other stocks remain high.

Russian President Vladimir Putin said on Wednesday that oil flows to the two Asian consumers are “growing strongly”. Indian oil minister Hardeep Singh Puri explained to reporters on Thursday why this is so. “If prices go up and you have no other option, you buy everywhere,” he said. “We have a very clear understanding of Indian interests.”