Reuters: India says it will continue buying cheap Russian oil
The Indian authorities are ready to continue purchasing oil from those Russian companies that have not been subject to sanctions. This was stated by the country’s Minister of Petroleum and Natural Gas Hardeep Singh Puri. He is quoted by Reuters.
Western sanctions have limited the price Russia can charge for its crude, he said. India, for its part, is willing to buy it at the lowest possible price from anyone. “If the company is not under sanctions, I will definitely buy from the cheapest supplier,” he said.
He also reminded that India is not the only country that buys products from Russia. European and Japanese businesses do the same.
The publication reminds that India imports 88 percent of the oil it needs. It is the third largest consumer and importer of oil in the world.
According to OPEC, Russia became the main supplier of oil to India in July. Russia accounts for 45 percent of foreign supplies of this raw material. In second place is Iraq, which provided 17 percent of Indian oil imports.
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