India's Russian Oil Imports Rebound in March

After a three-month decline, India's imports of Russian oil have shown a significant recovery in March. This rebound follows a period of reduced imports due to U.S. sanctions on Russian oil entities. Despite these sanctions, Indian refiners have managed to adapt by securing oil from non-sanctioned entities. The recovery is expected to see India's Russian oil imports rise to 1.92 million barrels per day (bpd) in March, marking the highest level since July last year. This increase underscores India's continued reliance on Russian oil, which remains a crucial component of its energy mix. The ability of Indian refiners to navigate sanctions has allowed them to maintain a strong supply chain, ensuring that Russia remains a key oil supplier to India.

Source: Reuters, Hellenic Shipping News