India is starting to reach the limits of its Russian oil splurge

Moscow accounted for 46% of India’s oil imports last month, according to data from analytics firm Kpler, a staggering leap from less than 2% before the invasion of Ukraine. In absolute terms, May marked a high. Granted, China too has taken far more Russian crude over the past year, with imports hitting records, but it is India, a strategic US partner, that has stepped in from the wings to prop up the Russian economy.

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