India Turns to Russia for Oil Amid Middle East Tensions
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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India Seeks Russian Oil Amid Middle East Tensions: As Middle East tensions disrupt supplies, India turns to Russia for up to 40% of its crude oil needs. Russian oil traders are in touch with Indian refiners, but government approval is needed for any significant increase. Meanwhile, Russia offers liquefied natural gas as a quick alternative, while the U.S. considers Navy escorts and new insurance for Gulf shipping. Indian refiners face tight supplies and shrinking Russian oil discounts, but Russias offer could ease the pressure.
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