India pivots to Russian crude and coal to mitigate Iran war fallout
cross-posted from : https://lemmy.zip/post/66641634
https://www.reuters.com/commentary/reuters-open-interest/india-pivots-russian-crude-coal-mitigate-iran-war-fallout-2026-06-23/Open linkView original on lemmy.zip
India has been funding the Russian war machine with its oil purchases for months already.
Pivot?
India has been the second-largest buyer of Russian crude behind China since the Kremlin decided to invade Ukraine.
Before the war in 2021, Indian imports of Russian crude were around USD 1-2 billion annually, according to Comtrade, Now it's above 50 billion.