Sanctions unlikely to majorly hit Russian oil flows to India.
Sanctions unlikely to majorly hit Russian oil flows to India.
Current Affairs Daily Articles & Editorials
La Excellence IAS Academy | March 28, 2024 | International Relations
| Syllabus: GS-II Subject: International Relations Topic: Global issues, Issue: India’s oil imports from Russia. |
Context: Latest round of US sanctions targeting Russian shipping major Sovcomflot.
Likely Outcomes:
- Muted impact expected on overall trade.
- Possibility of deeper discounts on Russian oil.
- Shift of crude deliveries to China noted.
- Minimal impact due to vast opaque tanker fleet.
- India remains the top importer despite sanctions.
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Source: Indian Express
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