Russia now largest oil exporter to India
Mint Mumbai|April 21, 2023
India has significant import requirements for crude, as 80% of its oil needs comes from imports
Ravi Dutta Mishra, Rituraj Baruah
Russia now largest oil exporter to India

Russia was the largest exporter of crude oil to India by value in February in spite of the western price cap of $60 per barrel, official data showed on Thursday.

Crude imports from Russia in February stood at $3.35 billion, followed by Saudi Arabia at $2.30 billion and Iraq $2.03 billion.

Between April and February Indian import of Russian oil jumped to $27 billion, second only to imports from Iraq which stood at $30 billion, making Moscow the second largest crude exporter to New Delhi in FY23.

Other top exporters included Saudi Arabia at $26.8 followed by the UAE $15.6 billion, US at $10.05 billion and Kuwait at $7.59 billion.

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