India could rely on Russia for half its oil imports soon as Moscow continues to sell cheap barrels
That figure is up from less than 2% in January 2022, just before Russia invaded Ukraine and when India at the time primarily relied on the Middle East for its oil.
The discount has encouraged countries that haven't shunned Russia for its war on Ukraine to snap up cheap supplies. With Europe largely out of the picture now, India and China are responsible for roughly 90% of Russia's oil export volumes, per Kpler data. , the International Energy Agency reported in April.
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