Modi-Putin Russian oil bonhomie helps India save more money in a year. Here’s how
Published July 22, 2023, 9:40 a.m. by Violet Harris
Though U.S-led western allies boycotted Russian oil since the beginning of the war in Ukraine, aiming to cut down Moscow's state revenues, India chose to gain from buying discounted Russian oil. So how much did India save in a year by buying Russian fuel? A report by Quartz states India saved an estimated $3.6 billion by ramping up Russian oil imports in less than a year. The report states the amount could possibly be higher. Responding to pressure from the West, India has time and again defended its oil purchases from Russia saying it has to source oil from where it is cheapest. Watch this video for details.
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