https://sputniknews.in/20230816/indias-import-from-russia-doubles-as-oil-fertilizers-supplies-surge-3632330.html
India's Import from Russia Doubles, as Oil, Fertilizers Supplies Surge
India's Import from Russia Doubles, as Oil, Fertilizers Supplies Surge
Sputnik India
New Delhi's overall imports from Moscow during the first four months of 2023 witnessed a 100 percent rise compared to the corresponding period last fiscal, statistics from India's Commerce Ministry showed.
2023-08-16T15:04+0530
2023-08-16T15:04+0530
2023-08-16T15:04+0530
business & economy
india
russia
moscow
delhi
new delhi
special military operation
ukraine armed forces
ukraine
russian armed forces
https://cdn1.img.sputniknews.in/img/07e6/0c/0d/80665_0:318:3073:2047_1920x0_80_0_0_18fd243a8e67e0a3a0a5028dab522a63.jpg
While the total value of India's imports from Russia between April-July this year stood at $20.45 billion, which was worth $10.42 billion during the same period last year.The massive jump in figures could be attributed largely to India's record crude purchases and fertilizer supplies from its close ally at a time when Western nations have shunned supplies of Russian oil following its special military operation in Ukraine.Additionally, fertilizers from Russia contribute a small portion to these imports compared to oil.Since last year, India has emerged as the second largest importer of Russian oil after China, with purchases topping the two million per day barrel mark every month since June.Contribution of Russian Imports to India's Crude Basket From having less than a 1 percent share in India's oil market before February 2022, Russia now commands a 44 percent stake in the country's crude basket. Last week, an energy expert told Sputnik India that New Delhi's imports of green gold from Moscow were backed by unwavering government support.For months, the government led by Prime Minister Narendra Modi has faced pressure from the West, especially the administration of US President Joe Biden to part ways with its long-time and trusted partner.But New Delhi has repeatedly rebuffed such overtures with Indian Foreign Minister Subrahmanyam Jaishankar underlining that deliveries of Russian oil to India were based on the premise of its national interests.
https://sputniknews.in/20230811/indias-russian-crude-imports-backed-by-substantial-government-support-expert-3550585.html
india
russia
moscow
delhi
new delhi
ukraine
south asia
eurasia
us
china
beijing
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2023
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
News
en_IN
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
india russian crude imports, india russian oil imports, india russian imports, india russian fertilizer imports, delhi moscow oil imports, delhi moscow crude imports, imports from russia, indian imports from russia, indian imports from moscow, russian oil supplies india, russian crude supplies india, russian oil deliveries india, russian crude deliveries india, moscow oil exports delhi, moscow oil exports new delhi,
india russian crude imports, india russian oil imports, india russian imports, india russian fertilizer imports, delhi moscow oil imports, delhi moscow crude imports, imports from russia, indian imports from russia, indian imports from moscow, russian oil supplies india, russian crude supplies india, russian oil deliveries india, russian crude deliveries india, moscow oil exports delhi, moscow oil exports new delhi,
India's Import from Russia Doubles, as Oil, Fertilizers Supplies Surge
India's overall imports from Russia during the first four months of 2023 witnessed a 100 percent rise compared to the corresponding period last fiscal, the statistics from India's Commerce Ministry showed.
While the total value of India's
imports from Russia between
April-July this year stood at $20.45 billion, which was worth $10.42 billion during the same period last year.
The massive jump in figures could be attributed largely to India's record crude purchases and fertilizer supplies from its close ally at a time when Western nations have
shunned supplies of Russian oil following its special military operation in Ukraine.
Additionally, fertilizers from Russia contribute a small portion to these imports compared to oil.
Since last year, India has emerged as the second largest importer of Russian oil after China, with purchases topping the two million per day barrel mark every month since June.
Contribution of Russian Imports to India's Crude Basket
From having less than a 1 percent share in India's oil market before February 2022, Russia now commands a 44 percent stake in the country's crude basket.
Last week, an energy expert told Sputnik India that New Delhi's imports of green gold from Moscow were backed by unwavering government support.
"Indian refiners have garnered
substantial government support in sustaining Russian exports," Arpit Chandna, a specialist in oil trade, associated with global market research firm Refinitiv said.
For months, the government led by Prime Minister Narendra Modi has faced pressure from the West, especially the administration of US President Joe Biden to part ways with its long-time and trusted partner.
But New Delhi has repeatedly rebuffed such overtures with Indian Foreign Minister Subrahmanyam Jaishankar underlining that deliveries of Russian oil to India were based on the premise of its national interests.
