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India's dependence on Russian oil soars to 30%

Shift spurred by discounted prices stemming from Western sanctions

A crude oil tanker near the port city of Nakhodka, Russia. India imported more than 6 million tonnes of Russian oil in March.   © Reuters

TOKYO -- India's dependence on Russian oil has increased to account for 30% of its imported total in March, according to a Nikkei analysis of shipping data.

India, which had previously relied almost exclusively on the Middle East, imported more than 6 million tonnes of Russian oil last month. Western sanctions stemming from Moscow's invasion of Ukraine have made oil from Russia relatively inexpensive, leading to the shift in procurement.

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