Share of Russian oil in India's imports rises to 35% in FY24
The share of Russian oil in India's total imports rose to 35% in 2023-24 from 23% in the previous year, according to energy cargo tracker Vortexa. During the year, all other key suppliers, including Iraq, Saudi Arabia, UAE, and the US lost share in the Indian market. Iraq's share fell to 20% (from 21%). Similar drops were noted for Saudi Arabia (15% from 17.5%), UAE (6% from 9%), and the US (3.5% from 5.5%).
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