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Russian crude is primarily procured by Nayara Energy who refine it and export it to the EU. Indian Oil and Bharat Petroleum who supply the domestic market don't
by unmole 3y ago
Russian crude is primarily procured by Nayara Energy who refine it and export it to the EU. Indian Oil and Bharat Petroleum who supply the domestic market don't buy Russian crude in significant quantities.
Cutting off the third largest producer of crude in the world is going to spike prices globally. Nobody is interested in that: not the US, not the EU and certainly not India. The Saudis would love that though.