Russia becomes India’s top oil supplier for the second year in a row
19 April 2024 13:50
During the 2023-2024 financial year, Russia became the main supplier of crude oil to India for the second year in a row, Komersant ukrainskyi 
with reference to Reuters.
India, which is the world’s third largest oil importer by volume, took advantage of Russian discounts triggered by G7 sanctions and again bought a record amount of crude oil from Russia during the reporting year.
Thus, Russian oil accounted for about 35% of India’s total crude oil imports (4.7 million barrels per day) in the financial year 2023-2024, which ended on 31 March.
According to the data, India imported 1.64 million barrels of Russian oil in the 2023-2024 financial year, up 57% year-on-year.
The next largest oil importers to India are Iraq and Saudi Arabia.
At the same time, in 2023-2024, India imported the same amount of oil from OPEC and non-OPEC countries for the first time.
At the same time, as Kommersant Ukrainian wrote earlier, India is looking for a replacement for Russian oil.
