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Oil trade balance: India’s Russian crude imports rise to 2 mn bpd in August, refiners stick to ‘business as usual’ despite US tariffs
India's Russian crude oil imports surged to 2 million barrels per day in August, escalating from 1.6 million bpd in July, primarily impacting imports from Iraq and Saudi Arabia. Russia now accounts for 38% of India's crude imports. Despite tariff announcements, Indian refiners maintain Russian oil purchases, guided by economic factors and the absence of sanctions.
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