US sanctions cut India ‘ s Russian oil imports by a third, more reductions likely

India’s imports of Russian oil fell by nearly a third after stringent US sanctions on key Kremlin-linked exporters came into effect on November 21, and analysts expect further declines in December as refiners turned to alternatives to avoid breaching sanctions.

India’s crude oil imports from Russia averaged 1.8 million barrels per day (bpd) in November and accounted for more than 35 per cent of its total crude import mix, according to real-time data analytics company Kpler.