India is increasingly reliant on Russia for oil, importing record volumes of Russian crude alongside purchases from West African and South American producers.
4 reports, 2 independent
Updated Aug 14
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What happened
India is increasingly reliant on Russia for oil, importing record volumes of Russian crude alongside purchases from West African and South American producers.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Due to Black Sea attacks, Indian importers in Mysore are sourcing sunflower oil from Argentina to maintain supply lines.Sub-event
India is diversifying its oil imports, relying on Russia as its largest supplier and sourcing from global producers.1 source
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The entities involved
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Middle East
geopolitical region encompassing Egypt and most of Western Asia, including Iran
Related events
- The ongoing Middle East conflict is causing global commodity market disruptions, specifically affecting the supply of fertilisers, and India is seeking assurances/cooperation regarding these supplies.
- War fallout is impacting global oil flows, with risks in the Strait of Hormuz affecting oil imports, while India contends with geopolitical market pressures and intensifying competition for winter gas supply.
- Conflict in the Middle East disrupted gas supplies needed for urea production, impacting India's energy imports.
- India is actively involved in global geopolitics, mediating talks between various global powers while balancing its relationships with rival blocs like the West and Russia.
- US law gives Trump authority to impose tariffs on Russian crude buyers, amidst Middle East disruptions.