InvestorQ : Is India facing pressure from the US and the Western nations on buying crude oil from Russia?
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Is India facing pressure from the US and the Western nations on buying crude oil from Russia?

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2 months ago
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Amidst strong reports of India being under pressure from the West on oil imports from Russia, India has denied the reports categorically. In fact, India has also affirmed that there was no pressure on them in any form from Western countries to stall energy purchases from Russia. Western nations have already imposed sanctions on Russia for declaring war on Ukraine and that includes a ban on oil imports. However, India has been buying crude aggressively from Russia as the latter had offered generous discounts.

For Russia, India and China did come in as saviours after Europe cut its oil intake from Russia due to the sanctions. In July 2022, India has imported more oil than China from Russia. India has also expanded its trade with Russia, making them the third largest supplier of coal after Australia and Indonesia. Indian has clarified to the West that its oil purchase decisions will not be politicized and will be driven purely by its energy security demands. India had also refused to vote against Russia in the UN General Assembly and the UN Security Council.

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