How India came to rely on Russian crude, why that could change and what that means for you
03/07/25 • 8 min
After the invasion of Ukraine and the subsequent sanctions, India took the opportunity to start buying cheap Russian crude. From 12% earlier, Russia went on to account for 40% of India’s oil imports. Now, fresh US sanctions mean our days of buying cheap Russian crude could be over. If India’s oil import bill increases, so will inflation. Please listen to the latest episode of All Indians Matter.
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After the invasion of Ukraine and the subsequent sanctions, India took the opportunity to start buying cheap Russian crude. From 12% earlier, Russia went on to account for 40% of India’s oil imports. Now, fresh US sanctions mean our days of buying cheap Russian crude could be over. If India’s oil import bill increases, so will inflation. Please listen to the latest episode of All Indians Matter.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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