India’s Shift Away from Russia: Driven by Transportation Issues and Political Motives

Largest purchaser of Russian oil shuns Putin

Despite facing sanctions from Western countries, India has emerged as one of the largest buyers of Russian crude oil. However, recent reports suggest that the country is now reducing its purchases from Russia.

Initially, India became the largest buyer of Russian crude oil when Russia lowered its prices in response to the sanctions imposed by Western nations. However, Indian refineries have since shifted their focus to other suppliers such as the United States and the Persian Gulf due to various challenges.

The decline in Indian oil purchases from Russia is attributed to several factors, including transportation issues and complex payment transactions. Additionally, there are speculations that India wants to appease Western countries that have imposed sanctions on Russia. Russian exports of petroleum products have decreased, and Indian companies have increased their purchases from the US, particularly through state-owned Bharat Petroleum and Indian Oil.

According to analysts, Indian refineries are turning away from Russia due to import problems. The Petroleum Minister of India has confirmed a decrease in Russian oil purchases while emphasizing the need to acquire energy at the lowest possible cost. While there may be political motives behind this shift, it is clear that Indian refiners are focusing on maintaining good relations with Western countries.

Despite these developments, Russian oil has still found its way into Europe as EU countries have shown interest in Russian oil products. To meet this demand, Indian refineries with substantial refining capacity have increased exports to Europe using the same Russian barrels imported earlier for domestic consumption.

On another note, China is also seeking cheap oil and both India and China have not taken a stance on Russia’s military actions.

In conclusion, while India initially became one of the largest buyers of Russian crude oil after sanctions were imposed by Western countries; nowadays it’s moving away from Russia due to various reasons including transportation issues and complex payment transactions.

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