Marketplace All-in-One Parsing the impact of fresh U.S. sanctions on Russian oil
Oct 23, 2025
Davina Gupta, a BBC journalist based in India, provides insights into how new U.S. sanctions on Russian oil will affect India, which has become heavily reliant on discounted Crude. She discusses the implications of losing this supply, exploring alternative sources and the potential for increased costs and inflation. The conversation also touches on stalled negotiations in the shipping industry aimed at reducing emissions, revealing the complexities of moving toward greener practices.
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India's Big Shift To Russian Oil
- India became the top buyer of Russian crude after 2022 by buying heavily discounted oil from Moscow.
- Last year India bought about $50 billion of Russian crude, nearly 37% of its total oil bill.
Middle East Remains India's Backup
- Alternatives for India include traditional Middle Eastern suppliers like Iraq, Saudi Arabia and the UAE.
- Losing Russian discounts could raise India's fuel costs and remove a major cost advantage.
Cheap Russian Oil Masks Inflation Risks
- Cheaper Russian imports have kept fuel prices lower for Indian consumers so far.
- If prices rise, higher transport costs will push up inflation and household budgets will feel the squeeze.