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India's Record Russian Oil Purchases
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India's purchases of Russian oil in October reached the highest level since December, despite efforts to limit Moscow's income amid the war with Ukraine. Indian refiners paid an average price of about $81.24 per barrel, surpassing the $60 per barrel price cap imposed by the US to curtail revenue. The Indian government's data does not specify additional charges, highlighting the significance of these purchases.
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How might India's record Russian oil purchases impact global crude oil prices and geopolitical tensions?
In what ways could the high prices paid for Russian oil reflect broader economic trends or geopolitical dynamics?
What strategies could be employed to address the challenges posed by Indian refiners' significant additional charges in purchasing Russian oil?
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