India faces 100% tariff threat over Russian oil after US House vote
- For four years, India, one of the world's biggest oil importers, has turned Russia's war-driven disruption of global oil markets to its advantage.
- Russian crude, displaced from western markets after the invasion of Ukraine, has flowed instead to Indian refineries, often at attractive discounts.
- The arrangement has lowered the cost of one of India's biggest imports and given its refiners an abundant source of crude.
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- For four years, India, one of the world's biggest oil importers, has turned Russia's war-driven disruption of global oil markets to its advantage.
- Russian crude, displaced from western markets after the invasion of Ukraine, has flowed instead to Indian refineries, often at attractive discounts.
- The arrangement has lowered the cost of one of India's biggest imports and given its refiners an abundant source of crude.
Sources: BBC News