India increased the import of raw oil from Russia 10 times in 2022.
This was reported by the BBC with reference to the press service of Bank of Baroda controlled by the state.
The regulator’s press service noted that about $ 5 billion was saved in the reporting period.
According to the bank, India earned about $ 89 per ton of raw oil purchased from the Russian Federation in the last financial year.
Currently, the share of Russian oil in the import of India is almost 20 percent. In 2021, this indicator was only 2 percent.
Thus, the volume of imports of Russian raw oil last year increased 10 times. It is expected that the Russian Federation will continue to sell oil to this country at a low price.