India’s oil and gas sector is strategically transforming amidst global shifts, with Russian oil now dominating imports at 35% in FY25, a surge from 2% in FY20. This shift impacts Middle Eastern suppliers as India safeguards its USD 44.4 billion petroleum exports amid US sanctions. While India’s crude import dependency rises to 88.
Value of India’s crude imports from Russia surges significantly at a CAGR of 96% during FY20-FY25: Report
