Key insights
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1
Significant drop in imports
India's Russian crude imports may fall to 400,000 bpd soon.
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2
Refiners adjusting supply chains
Indian refiners are exploring non-sanctioned channels for oil.
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3
Impact of US sanctions
New sanctions target specific companies, not all Russian oil.
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4
Future uncertainty
The trajectory of Russian oil imports remains unclear.
Takeaways
While India's imports of Russian crude oil are set to decline due to new US sanctions, the complete halt of these imports is unlikely. The situation remains fluid as refiners adapt to new supply channels and the enforcement of sanctions.
Topics
Business Economy Politics & World International Affairs Environment Energy