India’s import of cheap Russian crude oil touches record high in May | 5 facts

India has imported more than 24 million barrels of Russian crude oil in May – up from 7.2 million barrels in April and about 3 million in March – and is set to receive about 28 million barrels in June, news agency Reuters reported citing the Refinitiv Eikon data.

Since the Russian troops invaded Ukraine on February 24, India has received 34 million barrels of discounted Russian oil, the data shows. This import is treble the value of total imports from Russia, including other products, compared with the same period of 2021.

Key points on India’s oil imports from Russia

1. India’s oil imports from Russia have been rising since February.