India Benefits as Russian Oil Floods Market

India Benefits as Russian Oil Floods Market

More crude oil from Russia has become available for Indian refiners as Ukrainian drone attacks have reduced the Russian refining capacity, an Indian government official Reuters on Monday. Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buyer of R…

Running on Fumes: Ukrainian Attacks on Russian Oil Production Shift the War

“The Russian war machine will only stop when it runs out of fuel,” Ukrainian President Volodymyr Zelensky told a gathering of Western security officials in Kyiv last month. Zelensky was not speaking metaphorically. The Russian economy and President Vladimir Putin’s war on Ukraine are heavily dependent on the energy and revenue from Russian gas and […]