In 2023, the volume of EU countries’ oil imports from India reached record levels – reaching 231.8 thousand barrels per day (b/d), an increase of 115% on an annual basis. He acknowledges that some of the fuel the EU is buying may have come from Russia, given the sharp increase in New Delhi’s purchases of raw materials from the Russian Federation Independent.
Thus, European consumers continue to buy Russian gasoline, diesel fuel, kerosene and other oil products through India, bypassing sanctions, the publication writes.
India does not hide that it is ready to increase the volume of oil purchases from the Russian Federation. It became the world’s leading importer of Russian raw materials last year, according to market data from Kpler. On average, in 2023 the country purchased approximately 1.75 million barrels per day; this is 140% more than in 2022.
Meanwhile Bulgaria I decided to give up completely From oil purchases from Russia as of March 2024. Since the beginning of January, the country has increased supply from Kazakhstan, Iraq and Tunisia. Bulgaria became the fourth largest buyer of seaborne oil imports from Russia in 2023, purchasing approximately 100 thousand barrels per day.
Previously, analysts said when oil prices would rise and whether this would benefit Russia. More details – In the material “socialbites.ca”.