Why Is India Still Buying Russian Oil?

Three years after the Ukraine war began, India has become one of Russia’s largest oil customers. From negligible imports before 2022, Russian crude now accounts for nearly a third of India’s oil basket delivering big savings for refiners and keeping fuel prices steady at home. But these benefits come with rising diplomatic costs, including pressure from Washington, the threat of higher tariffs, and accusations that India is profiteering by exporting refined Russian crude back to Western markets. Host Anirban Chowdhury is joined by energy markets expert Vandana Hari and Nandan Unnikrishnan, Head of Euraisan Studies, Observer Research Foundation. Together, they examine how much Indian refiners truly gain from Russian discounts, whether those margins are sustainable as sanctions tighten, what risks loom over India’s US trade ambitions, and how long New Delhi can balance its need for cheap energy with its strategic partnerships in the West.You can follow Anirban Chowdhury on his social media: Twitter and Linkedin Listen to Corner Office Conversation our new show:: Corner Office Conversation with Pawan Goenka, Chairman, IN-SPACe, Corner Office Conversation with The New Leaders of Indian Pharma and much more. Check out other interesting episodes from the host like: Tariffs trump trade, Health Hazards in your Grocery Bag, Trump vs Harvard: India Impact, Explaining India’s Record FDI Freefall and much more. Catch the latest episode of ‘The Morning Brief’ on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Youtube. CREDITS: Firstpost, BroaderlinesSee omnystudio.com/listener for privacy information.