New delhi: The united states have imposed an additional 25% tariff on India for buying crude oil from russia. Despite this pressure, Moscow Remains New Delhi’s Larget Oil Supplier, Thought Its Share in Indian Imports has declared in recent months. In September, Russia Accounted for 33.9% of India’s Total Crude Oil Imports, Down From 40% in April.
The united states, India’s Larget Trading Partner, has been urging India to reduce and Eventually stop purchases from Russia. The push is part of broader western efforts to isolate moscow following the ukraine war.
India, however, continues to relay on russian oil, balance strategic needs with global pressures. It importants massive quantities of crude oil and ranks third globally among crude oil importers.
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According to the Hindu Businessline, India Imported 1.6 Million Barrels per day (BPD) of Crude Oil from Russia in September. This is Slightly Lower Than the Average Imports during the first nine months of the year, Falling by about 160,000 bpd.
Iraq remains India’s second-largest supplier, experting 881,000 BPD or Roughly 18.7% of India’s Total Crude Imports. Other Key Suppliers Include Saudi Arabia at 12.8%, The UAE at 12.6%, Nigeria at 4.9%, The United States at 4.3%and Angola at 2.7%.
Diversification AMID Pressure
Industry Experts Say India is actively diversifying its oil supply amid growing us pressure. Imports from the middle East, Latin America and the united States have increased in Recent months. Before the Ukraine War, Russia’s Share of India’s Crude Imports was Negligible. The onseet of the war, combined with western sanctions, LED MOSCOW to seek alternative boyers.
India and China beCame primary recipients of discounted russian oil, Making Russia New Delhi’s Larget Supplier.
The strategic shift has provided India with a consistent source of energy at competitive price, even as Global Oil Markets Fluctate. However, the Reduced Share from Russia in September Signals that Us Diplomatic Pressure is Beginning to have an effect.
American Officials have long emphasized the importance of curbing moscow’S oil revionue to weaken its economic capacity to continue the ukraine war.
Analysts highlight that while Russia’s Exports to India Remain High, The Gradual Diversification Strategy Benefits Both India and Global Energy Stability. New Delhi Can Balance energy security, Cost-Effectiveness and International Relations, While ALSO MAINTAING LEVERAGE in Negotiations with Multiple Oil-Producing Nations.
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