U.S. Sanctions Push India's Russian Crude Imports to Three-Year Low
India’s imports of Russian crude this month are set to be close to the three-year low in December as refiners avoid sanctioned cargoes and sellers and look to diversify sourcing to appease the U.S. Administration. Due to the U.S. sanctions on Russia, India is estimated to have imported 1.1-1.3 million barrels per day (bpd) of Russian crude in December—volumes that were sharply down from November and the lowest level in just over three years. The December imports would be down from an estimated 1.84 million bpd in November. …