Reuters exclusively reported that while the U.S. and its allies have leaned on countries to buy less Russian oil in a bid to punish Moscow for its aggression against Ukraine, Indian refiners have done the opposite. Refiners are snapping up more Russian crude while the government explores ways to protect domestic oil firms from punishment should they fall afoul of sanctions. The result has been a huge leap in volumes from Russia. Russia is now the second biggest supplier to India, replacing Saudi Arabia, while Iraq continues to be the largest.
The post Reuters reveals why India ramped up Russian oil imports, easing pressure on Moscow appeared first on Reuters News Agency.
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