India continues to strengthen economic ties with Russia

India continues to maintain and strengthen economic relations with Russia. This is despite the country's recent attempts to reduce its dependence on Russia as a security partner.

This is reported by RBC-Ukraine with reference to a report by the American Institute for the Study of War (ISW).

Before publishing their conclusion, the analysts noted that on December 12, Reuters reported that Russia's Rosneft and Indian oil refiner Reliance Industries had signed a historic 10-year agreement. According to the document, Russia will supply India with 500,000 barrels of oil daily, worth about $13 billion a year.

Thus, during Russia's full-scale war against Ukraine, India benefited from cheap Russian energy and downstream stations, eventually becoming the largest importer of Russian oil.

Author - Dmitriy Levchenko, 13/12/2024