What’s forced Russia to import 1 million barrels in 2 months from India
Russia has begun importing gasoline from India to address domestic fuel shortages caused by Ukrainian drone strikes on its refineries. Despite being a major crude oil exporter, Russia's domestic fuel production has dropped significantly, leading to this unusual trade shift.
Why it matters
This highlights the impact of the ongoing Russia-Ukraine conflict on global energy supply chains and the shifting trade dynamics between India and Russia.
There is a strange irony to the situation. Russia, known to be one of the world’s biggest oil exports and a country among the top 10 with highest crude reserves, is being forced to import petrol. What’s even more interesting is that the gap is being filled by India, among the biggest importers of oil in the world!Russia’s seaborne gasoline imports climbed to a record level of around 125,000 barrels per day (kbd) in August, which would amount to about 470,000 tonnes for the month.Reports suggest that Indian refiners supplied as much as 1 million barrels of gasoline to Russia over the past two months.Why India has become an important petrol supplier to RussiaIndia has become an important source of gasoline, or petrol, for Russia as Ukrainian drone strikes on refineries have disrupted domestic fuel production and pushed Russian fuel imports sharply higher, according to ship-tracking data.Energy analytics firm Vortexa…
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