India’s Opaque Russian Oil Purchases Emerge as Sanctions Test
- Russia has become top crude supplier, displacing the Saudis
- India says its oil purchase decisions are based on economics
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En route to New Delhi this month, US officials proclaimed themselves satisfied that India is buying Russian oil below G-7 price caps designed to undercut Moscow’s war in Ukraine without disrupting global energy flows.
Market experts — and even some of those involved in the energy trade — say it’s not so clear.