Despite Western efforts to alienate Moscow via sanctions, India might bail out Russia by accepting an offer to purchase crude oil as well as other goods at a bargain.
India, which imports 80% of its oil, normally only purchases approximately 1% from Russia. However, with oil prices up 40% already this year, the administration is considering raising it if it may assist lower the government's soaring energy cost, reports Dailymail.
'Russia is offering oil and other commodities at a heavy discount. We will be happy to take that,' said an Indian government official, refusing to say how much oil was on proposition or even what the rebate was.
The person went on to say that such a deal would necessitate preliminary work such as shipping, insurance, and obtaining the correct blend of oil, but once that was completed, India would accept Russia's proposal.
In 2021, Iraq was India's main crude oil provider, contributing for 25% of the country's overall crude imports.
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