Will India buy discounted Russian oil?

India reportedly aims to keep its trading partner on board

Big Zero Report 2022

While many countries have already sanctioned Russian oil and gas, India is reportedly considering buying crude oil from Russia at a discount.

According to Reuters, two Indian officials confirmed the considerations in a move that could be seen as a sign that Delhi wants to keep its links with its trading partner.

That comes after the US, the UK and Europe have already banned Russian energy exports.

A statement issued in Moscow about a phone discussion Russian Deputy Prime Minister had with India’s Oil Minister Hardeep Puri said: “Russia’s oil and petroleum product exports to India have approached $1 billion (£770m) and there are clear opportunities to increase this figure.”

In case you missed it, listen to what Ukrainian climate campaigners told ELN about how Russian oil and gas is financing Vladimir Putin’s war machine. 

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