Energy

India buys cheap Russian oil; China could be next

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Russian Foreign Minister, Sergey Lavrov, Chinese Foreign Minister Wang Yi and Minister of External Affairs of India Subrahmanyam Jaishankar pose for a photo during the Meeting of the Council of Foreign Ministers of Shanghai Cooperation Organisation in Moscow, Russia on September 10, 2020.

Russian Foreign Press Service Handout | Anadolu Agency | Getty Images

There’s been a “significant uptick” in Russian oil deliveries bound for India since March after Russia’s invasion of Ukraine began — and New Delhi looks set to buy even more cheap oil from Moscow, industry observers say.   

China, already the largest single buyer of Russian oil, is also widely expected to buy more oil from Russia at…



Source cnbc.com

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