India’s oil imports from Russia fall to two-year low
1.03.2025 - 15:33
India has cut its crude oil imports from Russia to their lowest level in two years due to sanctions.
In February, India cut its oil imports from Russia to their lowest level since January 2023, Bloomberg reported.
In 2024, India was the largest buyer of Russian oil transported by sea. According to the publication, Indian purchases may fall even further in the next two months, as sanctions have reduced the number of discount cargo sellers and the fleet for transporting oil from Russia.
Thus, in February, India’s imports from Russia decreased by 14.9%, compared to the previous month, to 1.4 million barrels per day.
To compensate for the loss of Russian oil, Indian refiners purchased more supplies from Mexico, Colombia, Angola and Nigeria.
Earlier, USM reported that Iran was forced to compete with Russia for non-sanctioned tankers.
