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Most of $3-billion Russian crude at sea India-bound
Financial Express Chandigarh
|March 16, 2026
NEW DELHI MAY BUY 50 MN BARRELS OF STRANDED URALS
INDIA COULD ABSORB a significant portion of the 6.9 million tonne of Russian oil (50.577 million barrels) worth €2.3 billion ($2.99 billion) currently stranded at sea, as disruptions to oil flows in the Strait of Hormuz and a US waiver for Russian barrels give Moscow a strategic opening to find buyers for its crude.
At its peak in mid-2024, India’s imports of Russian oil exceeded 2 million barrels per day. By February 2026, purchases had fallen to about 1.06 million barrels per day, according to analytics firm Kpler, as India curtailed imports under pressure from Washington. Analysts, however, predict a rebound following the US waiver and the availability of stranded cargoes.
Dit verhaal komt uit de March 16, 2026-editie van Financial Express Chandigarh.
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