Russian oil imports have fallen sharply
Russia's share in India's oil imports has fallen sharply. The share that was once 40% has now fallen to 21.1%. It imported only 1.1 million barrels of oil per day in January. This is the first time since November 2022 that it has imported so few barrels. This import is expected to fall to 8 lakh barrels per day in March. On the other hand, the Middle East's share in January's oil imports was recorded at around 55%.
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