India's Russian Oil Imports Surge to €112.5 Billion Since Ukraine War

India has invested a whopping €112.5 billion (about ₹1.5 lakh crore) in Russian crude oil imports since the Ukraine war began, as per a report by the Centre for Research on Energy and Clean Air (CREA). The huge purchase, which is a part of India's €205.84 billion worth of fossil fuel imports from Russia, reflects the increasing energy relations between India and Moscow. As the world's third-largest oil importer and consumer, India's strategic turn towards Russian discounted oil has had a huge influence on international energy markets. The decision indicates India's pragmatic response to energy security in the face of geopolitical tensions.

 

Sources: Centre for Research on Energy and Clean Air (CREA), PTI