India, the world’s third-largest oil importer, has seen its crude imports from Russia climb steadily since Russia invaded Ukraine in late February, according to Reuters, citing Refinitiv Eikon data.
Asia’s third-largest economy has dismissed criticism of its continued purchases of Russian energy in the wake of the Kremlin’s war in Ukraine, saying a sudden halt to Russian oil imports would ultimately hurt its consumers.
Separately, China has been seen quietly ramping up purchases of oil from Russia at discounted prices, Reuters reported, citing shipping data and unnamed oil traders. It appears to show the world’s biggest importer of crude moving to fill the vacuum left by Western buyers severing ties with Russia over the humanitarian crisis in Ukraine.