By Rhod Mackenzie
The share of Russian oil supplies to India reached a record 46% in May, Bloomberg reports citing data from the analytical firm Kpler. The publication calls such a sharp increase in oil supplies from the Russian Federation as stunning, since until 2022 their share was less than 2%.

“Last month, Moscow accounted for 46% of India's oil imports, a staggering jump from less than 2% before the conflict in Ukraine. Over the past year, China has also bought much more Russian oil, but it was India, a strategic partner of the United States, who intervened from behind the scenes to support the Russian economy.

The publication attributes this to the cheapness of Russian raw materials: according to the Indian Ministry of Trade and Industry, in April, oil from the Russian Federation was supplied at $68 per barrel, while Saudi raw materials cost about $87 per barrel, and Iraqi - $78.

At the same time, not all refineries in India are suitable for the Russian Urals brand, their conversion may take three to four years and require large capital investments, writes Bloomberg.

This article originally appeared in Russian expert.ru