India’s Crude Imports from Russia Fall to Cheapest Since War
- Imports from Russia in March averaged $70.18 per barrel
- High-cost crude from Saudi Arabia and Iraq loses popularity
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The average cost of Russian crude landing on Indian shores in March hit the lowest level since the South Asian nation started lifting discounted barrels from Moscow after its invasion of Ukraine last year.
India paid $70.18 for every barrel of crude oil it purchased from Russia in March, down from $72.14 in February and $118 a year earlier, the latest data published by the Ministry of Commerce and Industry showed.