India buys Russian oil despite pressure for sanctions

India Russian Oil
Posted at 6:43 AM, Mar 18, 2022
and last updated 2022-03-18 06:43:20-04

NEW DELHI (AP) — An Indian official says state-run Indian Oil Corp. bought 3 million barrels of crude oil from Russia earlier this week to secure its energy needs, resisting Western pressure to avoid such purchases.

The official said India will be looking to purchase more oil from Russia despite calls not to from the U.S. and other countries due to the invasion of Ukraine.

The official said India has no such sanctions. Imports make up nearly 85% of India’s oil needs.

Its demand is projected to jump 8.2% this year to 5.15 million barrels per day as the economy recovers from the devastation caused by the pandemic.