India’s Russian oil buys jump 90% in March

India significantly increased its imports of Russian crude oil by 90% in March compared to February. This dramatic surge occurred even as India overall oil imports declined by nearly 15% during the same period, underscoring a pronounced shift in its energy sourcing strategy amidst global market disruptions. This strategic pivot by India is primarily driven by the substantial discounts offered on Russian crude oil, which became available following widespread Western EU sanctions imposed after Russia invasion of Ukraine. India, a major energy importer, is capitalizing on these reduced prices to secure its energy needs and mitigate domestic inflationary pressures, thereby bolstering its national energy security. Furthermore, this move highlights a broader geopolitical realignment, as non-Western nations like India navigate the complex landscape of international sanctions, seeking to balance economic interests with global political pressures.