India refuses to reduce purchases
India plans to continue buying Russian oil, despite calls and pressure from the United States. This is reported by the agency Bloomberg with reference to government sources.
According to the publication, New Delhi sees no reason to give up cheap raw materials that ensure the stability of the country's energy market.
Economic reasons
After the start of Russia's full-scale invasion of Ukraine, India became one of the main buyers of Russian oil, enjoying significant discounts.
The government believes that such imports help to curb inflation.
Russian crude oil accounts for more than 30% of the total volume of oil purchased by India.
Western pressure
The US and EU countries have repeatedly called on India to join sanctions and restrictions against Moscow. In particular, this refers to the established “price ceiling” on Russian oil.
However, the Indian authorities insist that decisions on the country's energy security will be made solely on the basis of national interests.
Geopolitical balance
Analysts point out that India is trying to maintain a balance between its strategic partnership with the United States and cooperation with Russia. New Delhi emphasises that giving up Russian oil is currently economically unprofitable.
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