Key Points
India's import of Russian oil edged up in February over January, reversing declines seen in the past two months, data from industry sources showed on Wednesday, as refiners received some parcels of Russian light sweet Sokol grade...
The South Asian nation emerged as the top buyer of Russian oil in 2023 after some entities and nations retreated from purchases in December 2022...
Last month, Indian refiners imported 1.51 million barrels per day (bpd) of Russian oil, a rise of about 2.8% from January, the data showed..
Russian oil made up about 32% of India's overall oil imports in February, compared with 28% the previous month, the data showed...
India's Russian oil imports in recent months were hit by payment problems and tougher U.S. sanctions, targeting entities and ships involved in the sale of Russian crude at above the price cap of $60 a barrel fixed by G7 nations...
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