India is profiting from cheap Russian oil, says US

Bessent said that Russian oil now accounts for 42% of India's total oil purchases, compared to less than 1% before the war, and compared this to long-time buyer China, whose purchases of Russian oil have risen from 13% to 16%, Reuters reports.

“India is simply speculating. They are reselling. I would call it Indian arbitrage — buying cheap Russian oil, reselling it as a product that appeared during the war — this is unacceptable,” he said.

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Photo: slovoidilo.ua.

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