India likely gained Rs 35,000 crore with imports of discounted Russian crude

India likely gained Rs 35,000 crore by importing discounted Russian crude amid the ongoing Ukraine crisis even as the West imposed sanctions, according to a report by The Times of India.

After Moscow’s usual buyers shunned crude, India decided to buy Russian oil at a discounted price to combat the inflationary pressures back home.

India had ignored the West’s entreaties not to buy Russian oil, framing its purchases of discounted Russian crude as a necessity at a time of rising prices — even as Ukraine’s top diplomat said “the discount has to be paid by Ukrainian blood.”