Russia surpasses Iraq in oil exports to India
Iraq ranked as the second-largest oil exporter to India after Russia in the past January, although it remains the largest exporter on an annual scale.
Data from India’s import and export center shows that the country’s oil imports from Russia increased by 92 percent compared to last December, reaching 1.4 million barrels per day. The report added that, in this way, Russia supplied 27 percent of India’s approximately 5 million barrels of oil imports, making India the third-largest importer and consumer of oil in the world.
This is despite the fact that Indians previously showed little interest in buying Russian oil due to high logistics costs.