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Uploaded 3 months ago
Duration: 0h 6m 21s
US penalty risk on Russian oil may add $9-11 bn to India's import bill
India's annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said.
India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022.
Uploaded by: Rediff Video Desk on Sun, 03 Aug 2025 12:03:56 +0530
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