India’s March crude import bill falls 4%, but up 4x from Russia
NEW DELHI: India’s crude imports from Russia surged in March, with purchases at nearly € 5.3 billion (about $6.2 billion) compared with € 1.4 billion ($1.6 billion) the previous month, amid the military conflict in West Asia and closure of the Strait of Hormuz.
In its latest analysis of Russian fossil fuel exports and sanctions, Centre for Research on Energy and Clean Air (CREA) said India imported € 5.8 billion worth of Russian hydrocarbons in March – the second-highest after China – as both volumes and prices increased. Crude accounted for 91% of imports, followed by coal and oil products.
