India's Oil Revolution: Shifting from Russian Crude to Middle Eastern and African Suppliers Amid Sanctions

India is pivoting from Russian oil to Middle Eastern and African sources as U.S. sanctions tighten. The Indian Oil Corporation (IOC) has secured 7 million barrels of crude from these regions, including notable purchases from Abu Dhabi and Nigeria. This shift is driven by the need to compensate for declining Russian supplies, which have been affected by recent sanctions targeting Moscow's oil producers. With the energy needs of India to stabilize, reliance on traditional suppliers like Iraq and Saudi Arabia is going to increase. 

 

Source: Moneycontrol, Business Standard, Economic Times