India surpasses China to become biggest importer of Russian oil

India surpasses China to become biggest importer of Russian oil

Daily Current Affairs   /   India surpasses China to become biggest importer of Russian oil

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Category : Business and economics Published on: August 24 2024

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  • India became the largest importer of Russian oil in beating China which reduced its purchases due to lower profit margins in fuel production.
  • Data on Indian shipments from trade and industry sources revealed that Russian crude imports increased by 12% year-on-year to 44% of India's total imports last month (July 2024), reaching a record high of 2.07 million barrels per day (bpd).
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