Russian Oil Exports to India Could Hit New High In 2023

Crude oil exports from Russia to India could reach a new record this year if prices and other terms remain favorable, the Times of India reported, citing experts. The upcoming EU embargo on seaborne diesel imports from Russia could also contribute to higher exports of crude to India, where it will be refined into fuels and exported to the European Union. Russia used to be a minor exporter of oil to India until last year when EU sanctions in response to Russia’s invasion of Ukraine led to a re-routing of Russian oil flows. China became one…