India increases Russian oil purchases to record highs

India increases Russian oil purchases to record highs

© Photo: Maria Novoselova/Vestnik Kavkaza

India is increasing its imports of Russian oil amid a reduction in supplies to China.

In May, India increased its imports of Russian oil to a record 1.8 mln barrels per day, media reports.

As Reuters notes, India is particularly active in purchasing the ESPO grade. The country previously purchased over 10 batches of "black gold", supplies will continue until July.

According to media reports, the increase in India's purchases coincided with a new package of EU sanctions, as well as the refusal of a number of Chinese companies to work with oil imported from Russia. Russian oil supplies to China fell by 14% in the first four months of the year.

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