Russia has overtaken which country to become India’s second biggest supplier of oil?(2022)

Key Points

• Russia has become India’s second-largest supplier of oil, overtaking Saudi Arabia.
• The increase in imports was driven by discounted prices offered by Russia after the sanctions imposed by Western nations due to the Russia-Ukraine conflict.
• India, one of the largest importers of crude oil, diversified its sources and increased purchases from Russia.
• Saudi Arabia remains a significant supplier of crude oil to India but has been surpassed due to Russia’s discounted oil prices.