Russia went from supplying under 2% of India's crude oil in FY2021-22 to 35.8% in FY2024-25, becoming India's largest single crude supplier. The reason evolved…
Through January 2022, Russia supplied less than 0.2% of India's crude imports. Iraq, Saudi Arabia, the UAE and Kuwait together supplied roughly 85%, arriving in days acr…
After Russia's invasion of Ukraine, Western buyers and traders retreated from Russian oil. Moscow discounted Urals crude by roughly $20-35 a barrel to Brent to attract n…
The G7 and EU introduced a $60/barrel price cap on Russian oil. The mechanism conditioned access to Western shipping, insurance and financing services on a cargo being s…
Russia's share of India's crude imports climbed to 21.6% in FY2022-23, then held at 35.9% in FY2023-24 and 35.8% in FY2024-25 (PPAC/DGCI&S) — confirming the shift was st…
The EU's 18th sanctions package directly sanctioned Nayara Energy (49.13% owned by Rosneft) and cut the price cap to $47.60/barrel with a new dynamic formula. Nayara's E…
India's Russian crude imports fell to roughly 1.1 million barrels a day — the lowest since late 2022 — days after a new EU ban on fuel refined from Russian crude in thir…
Iran closed the Strait of Hormuz on February 28, 2026, after US and Israeli strikes reportedly killed Iran's Supreme Leader. Gulf tanker traffic fell roughly 95%. With G…
India's Russian crude imports hit an all-time monthly high of roughly 2.82 million barrels a day — 55.5% of everything India imported that month — as refiners kept subst…
Chinese 'teapot' refiners bid more aggressively for Russian cargoes, pulling India's volumes down more than 26% from July's record to roughly 2.0 million barrels a day,…
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