India will continue to buy russian oil

India’s foreign minister has said that India will continue to buy russian oil as it is beneficial for the country.

This year, India became the largest buyer of oil in russia (after China). Oil refineries are buying russian raw materials, which Western buyers are avoiding because of russia’s war in Ukraine, writes Reuters.

“Our main commitment is to provide the Indian consumer with the best possible access on the most favorable terms to the international (oil and gas) markets. In this regard, we see that the relations between India and russia are working in favor,” said Indian Foreign Minister Subrahmanyam Jaishankar at a joint press conference with Sergey Lavrov.

In October, russia’s share in Indian oil imports increased to 23%. At the same time, the US hopes that India will take advantage of the price cap on russian oil. US Treasury Secretary Janet Yellen, who is due to visit India this week, said India would only benefit from the price cap.