Surge In Global Bidders Threatens India’s Russian Oil Bargains

Indian refiners have grown reliant on discounted Russian crude oil since the onset of Western sanctions following Russia’s invasion of Ukraine in 2022. This steady supply has helped keep India’s import costs down amid volatile global energy markets. However, a recent U.S. policy shift could upend this advantage.The United States has temporarily eased restrictions, permitting countries previously
Indian refiners have grown reliant on discounted Russian crude oil since the onset of Western sanctions following Russia’s invasion of Ukraine in 2022. This steady supply has helped keep India’s import costs down amid volatile global energy markets. However, a recent U.S. policy shift could upend this advantage.The United States has temporarily eased restrictions, permitting countries previously
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