US sanctions may impact India's Russian oil imports
after close1 source ↓written by the desknot a recommendation
- this year
- 1.7 million bpd
- effective
- 21 Nov 2023
- in December
- 400,000 bpd
India's crude oil imports from Russia, averaging 1.7 million bpd this year, are projected to decline sharply due to new US sanctions on Rosneft and Lukoil effective from 21 Nov 2023. Analysts estimate imports may drop to around 400,000 bpd in December and January, affecting fuel supply. This shift could impact fuel prices and refinery operations in India.
Not investment advice. For informational purposes only.