India's Russian oil imports are expected to rise due to lower oil prices, allowing the use of Western services and shipments. The Group of Seven (G7) imposed a $60 per barrel price cap for oil at Russian ports to reduce Moscow's revenue, leading to a decline in global oil prices. India, the world's third-largest oil importer and consumer, emerged as the biggest buyer of Russian seaborne oil amid Western restrictions. Recent U.S. sanctions on maritime companies and vessels for shipping Russian oil above the G7's price cap have highlighted the impact on India's intake of Russian oil. The Indian official stated that there would not be any impact on India's intake of Russian oil due to Western sanctions on ships.

India's Rising Russian Oil Imports