India, which refuses to take sides in the Ukrainian conflict, was importing Russian crude oil at discounted rates, resisting pressure from the West to avoid such purchases. Local media say it could buy up to 15 million barrels of cheap fuel to meet the country’s enormous energy demands.
Indian Oil Corp, the country’s largest oil refiner, bought three million barrels of Russian crude oil through a Dutch energy and commodity trading firm late last week at a discount of up to 22.7 euros a barrel to dated Brent, media reports said.
