Is India’s Reliance on Russian Oil Imports Reaching a Limit

News Snapshot:

India’s imports of oil from Russia reached a new height as New Delhi’s daily volumes climbed to 2.2 million barrels a day in June. The Russian purchases exceeded the combined shipments of Saudi Arabia and Iraq. Though New Delhi’s trade with Russia reached new volumes, there are speculations that, India’s appetite may have peaked and going to decrease over the months. Reports also pointed out that it is getting tougher to pay Russia and the perils of paying in Chinese yuan, amid India’s strained ties with Beijing. News18 takes a look at India’s oil trade with Russia and the future...