Why is Russia importing petrol from India despite being an oil giant?
Russia has started importing petrol by sea from India to tackle shortages caused by Ukrainian attacks on Russian oil refineries and energy facilities, mentioned a report.
Russia is one of the world's biggest oil producers, so news that it has started importing petrol from India may come as a surprise. But the move has little to do with a lack of crude oil. Instead, it is aimed at easing fuel shortages that have emerged after repeated attacks on the country's energy infrastructure.
According to industry sources, Russia has already begun receiving petrol shipments from India as it looks to improve fuel supplies across the country, reported Reuters.
FUEL SHORTAGES FORCE RUSSIA TO LOOK OVERSEAS
The report mentioned that Russia has started importing petrol by sea from India to tackle shortages caused by Ukrainian attacks on Russian oil refineries and energy facilities.
The shortages have affected several parts of the country. Reports of fuel rationing, long queues at petrol pumps and a sharp rise in petrol prices have emerged across Russia's 11 time zones.
The Kremlin also confirmed earlier this week that it is in touch with other countries to secure fuel imports at suitable prices.
INDIA SHIPS PETROL TO RUSSIA
According to one industry source, at least 60,000 metric tonnes of petrol have already been dispatched from India to Russia.
Another source said two tankers carrying between 30,000 and 40,000 tonnes each have been sent.
However, it is not yet known which Indian refiner is supplying the fuel.
Meanwhile, Russia plans to import around 400,000 tonnes of petrol every month from different countries, a third source said, the report mentioned.
Apart from India, neighbouring Belarus is also supplying fuel to Russia and has already increased its exports.
During the summer months, Russia consumes at least 110,000 tonnes of petrol every day, making uninterrupted fuel supplies especially important.
UKRAINE ATTACKS HAVE DISRUPTED FUEL SUPPLIES
Russian President Vladimir Putin recently acknowledged that Ukrainian drone strikes on oil refineries had caused fuel shortages in some regions of the country.
He, however, said the government was taking steps to deal with the situation.
Last week, Russia's parliament approved changes to the country's tax code to address the shortages. The measures include subsidies for fuel imports, with costs linked to Indian delivery prices.
INDIA-RUSSIA ENERGY TIES REMAIN STRONG
The latest fuel shipments come at a time when India's imports of Russian crude oil have reached record levels.
Data from LSEG and Kpler showed that India's purchases of Russian crude hit an all-time high in June, as Indian refiners increased buying to reduce the impact of disruptions to other global oil supply routes.
Russia is one of the world's biggest oil producers, so news that it has started importing petrol from India may come as a surprise. But the move has little to do with a lack of crude oil. Instead, it is aimed at easing fuel shortages that have emerged after repeated attacks on the country's energy infrastructure.
According to industry sources, Russia has already begun receiving petrol shipments from India as it looks to improve fuel supplies across the country, reported Reuters.
FUEL SHORTAGES FORCE RUSSIA TO LOOK OVERSEAS
The report mentioned that Russia has started importing petrol by sea from India to tackle shortages caused by Ukrainian attacks on Russian oil refineries and energy facilities.
The shortages have affected several parts of the country. Reports of fuel rationing, long queues at petrol pumps and a sharp rise in petrol prices have emerged across Russia's 11 time zones.
The Kremlin also confirmed earlier this week that it is in touch with other countries to secure fuel imports at suitable prices.
INDIA SHIPS PETROL TO RUSSIA
According to one industry source, at least 60,000 metric tonnes of petrol have already been dispatched from India to Russia.
Another source said two tankers carrying between 30,000 and 40,000 tonnes each have been sent.
However, it is not yet known which Indian refiner is supplying the fuel.
Meanwhile, Russia plans to import around 400,000 tonnes of petrol every month from different countries, a third source said, the report mentioned.
Apart from India, neighbouring Belarus is also supplying fuel to Russia and has already increased its exports.
During the summer months, Russia consumes at least 110,000 tonnes of petrol every day, making uninterrupted fuel supplies especially important.
UKRAINE ATTACKS HAVE DISRUPTED FUEL SUPPLIES
Russian President Vladimir Putin recently acknowledged that Ukrainian drone strikes on oil refineries had caused fuel shortages in some regions of the country.
He, however, said the government was taking steps to deal with the situation.
Last week, Russia's parliament approved changes to the country's tax code to address the shortages. The measures include subsidies for fuel imports, with costs linked to Indian delivery prices.
INDIA-RUSSIA ENERGY TIES REMAIN STRONG
The latest fuel shipments come at a time when India's imports of Russian crude oil have reached record levels.
Data from LSEG and Kpler showed that India's purchases of Russian crude hit an all-time high in June, as Indian refiners increased buying to reduce the impact of disruptions to other global oil supply routes.
Russia is one of the world's biggest oil producers, so news that it has started importing petrol from India may come as a surprise. But the move has little to do with a lack of crude oil. Instead, it is aimed at easing fuel shortages that have emerged after repeated attacks on the country's energy infrastructure.
According to industry sources, Russia has already begun receiving petrol shipments from India as it looks to improve fuel supplies across the country, reported Reuters.
FUEL SHORTAGES FORCE RUSSIA TO LOOK OVERSEAS
The report mentioned that Russia has started importing petrol by sea from India to tackle shortages caused by Ukrainian attacks on Russian oil refineries and energy facilities.
The shortages have affected several parts of the country. Reports of fuel rationing, long queues at petrol pumps and a sharp rise in petrol prices have emerged across Russia's 11 time zones.
The Kremlin also confirmed earlier this week that it is in touch with other countries to secure fuel imports at suitable prices.
INDIA SHIPS PETROL TO RUSSIA
According to one industry source, at least 60,000 metric tonnes of petrol have already been dispatched from India to Russia.
Another source said two tankers carrying between 30,000 and 40,000 tonnes each have been sent.
However, it is not yet known which Indian refiner is supplying the fuel.
Meanwhile, Russia plans to import around 400,000 tonnes of petrol every month from different countries, a third source said, the report mentioned.
Apart from India, neighbouring Belarus is also supplying fuel to Russia and has already increased its exports.
During the summer months, Russia consumes at least 110,000 tonnes of petrol every day, making uninterrupted fuel supplies especially important.
UKRAINE ATTACKS HAVE DISRUPTED FUEL SUPPLIES
Russian President Vladimir Putin recently acknowledged that Ukrainian drone strikes on oil refineries had caused fuel shortages in some regions of the country.
He, however, said the government was taking steps to deal with the situation.
Last week, Russia's parliament approved changes to the country's tax code to address the shortages. The measures include subsidies for fuel imports, with costs linked to Indian delivery prices.
INDIA-RUSSIA ENERGY TIES REMAIN STRONG
The latest fuel shipments come at a time when India's imports of Russian crude oil have reached record levels.
Data from LSEG and Kpler showed that India's purchases of Russian crude hit an all-time high in June, as Indian refiners increased buying to reduce the impact of disruptions to other global oil supply routes.
