The import of Russian crude at discounted rates has benefitted India massively. The imports from Moscow at discounts, coupled with levying a windfall tax on domestic crude, helped India save ₹35,000 crore. Remember, India went on bargain hunting for Russian crude as the Ukraine conflict prompted Moscow’s traditional buyers to shun those barrels. Despite immense pressure from the United States and its allies to not buy from Russia, India chose to import crude to fulfil domestic demands. This strong oil strategy by the Modi government is now yielding profits. Watch this report to learn more.
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