India Brushes Off US Threats, Doubles Russian Oil Imports Amid Global Tensions | Watch
India retained its position as the second-largest buyer of Russian crude in October, trailing only China. According to CREA, New Delhi spent $2.9 billion on Russian oil, representing 81% of its fossil fuel purchases. Imports rose 11% month-on-month, with private refiners accounting for over two-thirds and state-owned refineries nearly doubling volumes. The Vadinar refinery operated at 90% capacity, sourcing exclusively from Russia since EU sanctions in July. Exports fell to the lowest levels since May 2023. India imported around 1.8 million barrels daily despite U.S. tariffs of 50% and diplomatic pressure from President Trump, showing no sign of reducing purchases. Watch
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