India’s Reliance on Russian Oil Soars Post-Ukraine Invasion
New Delhi– India’s reliance on Russian petroleum has risen drastically given that the start of the dispute in Ukraine. Before the invasion in very early 2022, Russia made up a minimal part of India’s oil imports. Currently, Moscow supplies approximately one-third of India’s complete oil needs, a seismic shift in the country’s energy sourcing.
- Pre-Invasion: Russian oil made up just 2 % of India’s imports.
- Current Scenario: Russia supplies approximately 33 % of India’s oil.
- Economic Variables: Marked down rates are attributed as a main driver for the enhanced dependence.
This reliance highlights the complicated geopolitical dynamics affecting international energy markets.
