India is buying the most petrol from Russia on a monthly basis, Photo: File
New Delhi: India imported a record amount of petrol from Russia in January last month which was 27% of its total requirement.
According to the world news agency, India has now become a major country that buys petrol from Russia. Imports of Russian oil reached 1.4 million barrels per day in January, which is 9.2% higher than in December.
As India buys cheap petrol from Russia, its crude oil purchases from Gulf countries have reduced by 84%. Russian oil accounted for about 27% of the 5 million bpd crude oil imported by India last month.
With a population of 1.4 billion, India is currently the world’s third largest oil importer. This is the reason why other petroleum exporting countries, including the Gulf countries, pay special attention to India.
As a result of the attack on Ukraine, the world powers had imposed economic and financial sanctions on Russia, including the export of crude oil, but India, ignoring the ban, bought crude oil from the very beginning.
Faced with sanctions in European countries, Russia also needed a large market to sell its oil, which it got in the form of India, and India started getting slightly cheaper petrol.
It should be noted that the current Pakistani government has also negotiated to buy petrol from Russia, but it may take more.
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