Russian Oil Imports Far Below Earlier Estimates
New Delhi: India's annual benefit from importing crude oil from Russia at a discount is just $2.5 billion (about Rs. 21,875 crore), equivalent to 0.6 per cent of the country's GDP, brokerage firm CLSA said in a study released on Thursday. The figure of $10-25 billion (Rs. 87,500-2,18,750 crore) previously estimated by several media reports is much lower than the huge benefit.
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