India increased its oil imports from Russia in March, despite concerns that the United States might impose sanctions on countries purchasing Russian crude. The volume of oil imports from Russia rose compared to February, showing India’s continued reliance on discounted Russian crude.
As per data from energy analytics firm Vortexa, India bought around 1.57 million barrels of crude oil per day from Russia in March — an 11% rise from February’s 1.42 million barrels per day. Overall, India’s crude oil imports for March and April are estimated at 1.6 million barrels per day, which is slightly lower than the 1.63 million barrels per day average recorded in the same months last year.
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