How an unfazed India is talking to Russia to double the oil imports

As Moscow is offering deep discounts on its crude oil amid its boycott by the U.S & EU due to its invasion of Ukraine, India is looking at purchasing more low-cost Russian oil from Rosneft PJSC, according to a Bloomberg report. These deals, if closed, will be over and above the purchases, India already made through other deals. India imports over 80 per cent of its crude oil requirements. The country imported 193.5 million tonnes of crude oil in the current financial year till February, at a cost of $105.8 billion. The crude oil in the country mainly comes from the Middle East and the US. From Russia, in the whole year 2021, the country bought just 12 million barrels of the oil, which is only 2 per cent of its total imports. India’s own domestic production is more than that. However, Biden administration has been pressurising to end deals with Russia but India remains unfazed. Watch this report to know more.