India imports €2.5-bn Russian oil in Oct

New Delhi: India, the second-biggest buyer of Russian oil, spent as much as 2.5 billion euro on purchases of crude oil from Moscow in October, ahead of new sanctions being slapped on Russian entities, a European think tank has said.

India’s spending in October was unchanged from the 2.5 billion euro spent on buying Russian oil in September. India remained the second-largest buyer of Russian fossil fuels in October behind China, according to the Centre for Research on Energy and Clean Air (CREA). On October 22, the US imposed sanctions on Rosneft and Lukoil, two of the largest oil producers in Russia, to cut off the Kremlin’s resources for funding the Ukraine war.