.jpeg)
India’s Russian Oil Imports Triple to €5.3 Billion in March Amid Price Surge
Russian Oil Import: India's Russian oil imports tripled to 5.3 billion euros in March. This increase was driven by a surge in oil prices and doubled purchases.
India imported more Russian oil in March, and the total value of imports stood at 5.3 billion euros, over three times more than the previous figure. Increased oil prices and a doubling of purchases from February raised the cost of importing. According to a European research organization, the Center for Research on Energy and Clean Air, India resumed massive imports of Russian oil in March after falling back in February.
The report stated, "India was the second-largest buyer of Russian fossil fuels in March, purchasing Russian hydrocarbons worth 5.8 billion euros. Crude oil products accounted for 91 percent of India's total purchases, valued at 5.3 billion euros. The remaining monthly imports included coal (337 million euros) and oil products (178.5 million euros)."
In February, India was the third-largest importer, purchasing Russian hydrocarbons worth 1.8 billion euros. Crude oil accounted for 81 percent of this (1.4 billion euros), followed by coal (223 million euros) and oil products (121 million euros). CREA stated, "India's total crude oil imports declined by four percent in March, but imports from Russia doubled during this period."
