Russia has become India’s second largest oil supplier

According to IRNA, quoting Reuters, trade data and statistics released in May show that Russia has become India’s second largest oil supplier, with Iraq and Saudi Arabia ranking first and third, respectively.

The data show that Indian refineries received about 819,000 barrels per day of Russian oil in May, the highest level ever.

According to the report, despite Western sanctions against Russia, the country’s crude oil exports have not decreased significantly. India’s crude oil imports from Russia in May currently account for about 16.5 percent of India’s total oil imports. The data show that the share of Middle Eastern countries in this market is about 59.5%.

Statistics show that the share of African oil in India’s crude oil imports last month increased from 5.9 percent to 11.5 percent.

Kremlin spokesman Dmitry Peskov recently said that the country had begun exporting oil from Europe to other parts of the world following the imposition of oil sanctions. Peskov described the decision as organized, which would allow his country to minimize the negative consequences of sanctions.

India is one of the countries that, following the imposition of sanctions on Russian oil and disruption of its oil supply, has begun to buy unprecedented shipments of its oil at a high discount on the price of this commodity in the world market.

https://www.reuters.com/world/india/russia-becomes-indias-second-biggest-oil-exporter-trade-sources-2022-2-06-13 / trueAnthem & utm_source = twitter