India’s Russian crude oil imports unlikely to stop despite US trade deal
- New Delhi’s foreign secretary emphasised that oil purchases will be dictated by national interest
- Diversification of sources will be key in reducing Russian oil imports, ‘but a complete halt is unlikely’
- Latin American exports to India have been rising as India looks to diversify crude oil imports, boosting tonne miles
Near-term Russian imports by state-owned refiners look unlikely but the same cannot be said for the long term as India prioritises its energy security
