India increased its imports of Russian oil by more than 400,000 bpd in April and May

Thanks to a price discount, India increased its imports of Russian oil by 4.7 times in April through May, or by more than 400,000 barrels per day (bpd), year over year, the Russian central bank reported on Tuesday.

Since sanctions were placed against Moscow for what it refers to as a “special military operation” in Ukraine, Indian refiners have been buying up relatively inexpensive Russian oil, which has been spurned by Western companies and nations.

The central bank also reported that China increased its purchases of Russian oil by 55% in May, overtaking Saudi Arabia as China’s main oil supplier.

Please leave this field empty

Oh hi there
It’s nice to meet you.

Sign up to receive awesome & exclusive content in your inbox, every week.

We don’t spam! Read our privacy policy for more info.

Thank you for signing up! Check your inbox or spam folder to confirm your subscription.