Saved $ 5 billion: India has increased the import of oil from the Russian Federation last year

It is noted that the third largest economy of Asia has saved about $ 5 billion due to increasing oil purchases from Moscow. "This happens at a time when Western countries are reducing energy imports from Russia after its invasion of Ukraine. Russia sells energy at a discount of countries such as China and India, which is the third largest oil importer in the world. In 2021, Russian oil was only 2 % of annual imported oil imports of India. This figure is now almost 20%, ”the publication notes.

Also, the figures indicate that during the last financial year of India it was possible to save about $ 89 for a tonne of raw oil. Despite pressure from Western countries, New Deli refused to join sanctions on Russian imports and did not make a direct conviction Since the beginning of the invasion of Ukraine, Europe has purchased more energy from Russia than India, said in 2022, India's Foreign Minister Subranshany Jayshankar.

"Europe was able to reduce its import, while making it a convenient way for itself," the official said. According to analysts, Moscow will continue to offer cheap oil to the largest Asian importers of energy. "We expect the consumption of Russian oil to remain limited by the two countries (India and China - ed. ), Keeping significant discounts," Vandana Hari said from Vanda Insights.

We will remind, on May 10 in the preliminary assessment of the implementation of the federal budget of the Ministry of Finance of the Russian Federation it was stated that from January to April 2023 the oil and gas revenues of the aggressor decreased by 52%, compared with the indicators last year for the same period.