Energy - India becomes Russia's largest oil customer
According to the Russian government in Moscow, India has become the largest buyer of Russian oil. "India is our key partner in the energy sector and as of today, India is one of the most important markets for us," Russian Deputy Prime Minister Alexander Novak reportedly told the Interfax news agency. According to his statements, Russia exported 90 million tons of oil to India last year. "This corresponds to 40 percent of India's total needs." Deliveries reportedly doubled compared to 2022.
Novak made these comments on the sidelines of a two-day visit to India's Prime Minister Narendra Modi in Moscow. Modi met with Putin for the first time since the start of the war in this Russian capital. The two leaders discussed the expansion of economic cooperation. Regarding the Ukraine war, New Delhi takes a pragmatic stance: it calls for a diplomatic solution but does not condemn the attack and does not participate in sanctions. On the contrary: due to the low price of Russian oil as a result of Western sanctions, India is buying the raw material in large quantities.
- Alexander Novak, discussing with Interfax news agency, highlighted that Russia considers India as its key partner in the energy sector, with India being one of the most significant markets for Russian oil, having imported 90 million tons of oil from Russia last year.
- During his two-day visit to India's Prime Minister Narendra Modi in Moscow, Russian Deputy Prime Minister Alexander Novak reportedly mentioned that Russia's oil deliveries to India doubled compared to 2022, making India the largest buyer of Russian oil.
- In light of Western sanctions, India, under the leadership of Prime Minister Narendra Modi, has been taking advantage of the low price of Russian oil and has significantly increased its oil imports from Russia, markedly contributing to Russia's energy sector.
- Russian Deputy Prime Minister Alexander Nowak, during his meeting with Indian Prime Minister Narendra Modi in Moscow, emphasized the importance of the energy sector in the relationship between Russia and India, noting that Russia's oil exports to India make up 40% of India's total oil needs.
