India’s opaque purchases of Russian oil emerge as sanctions test

India’s consumption of Russian crude was minimal and sporadic before President Vladimir Putin’s forces attacked Ukraine, but it has soared since, becoming a key tool for Prime Minister Narendra Modi’s bid to fight energy inflation. Yet the structure of India’s oil trade means that the final price it pays includes shipping, insurance and other costs upon arrival at its ports, without a detailed breakdown

from Energy-Industry-Economic Times https://ift.tt/pYyVKiZ