India may turn to old oil suppliers as US sanctions hit Russian firms

India may have to go back to West Asia and scout for deals in Latin America and West Africa for oil supplies after the US hit two of Russia’s top producers with punitive sanctions, experts say.

The pivot, which will be fraught with near term challenges over financing and logistics, however, may prove to be a blessing in disguise for the Modi government as India’s import of Russian crude is set to fall dramatically, meeting a key demand of the Trump administration and facilitating a favourable trade deal with the US.