India tells oil companies to load up on discounted Russian crude

India has increased imports of Russian oil by more than 25-fold since the start of the war, buying an average of 1 million barrels a day in June, compared with 30,000 in February, according to Kpler data (Photo: Reuters) — India has increased imports of Russian oil by more than 25-fold since the start of the war, buying an average of 1 million barrels a day in June, compared with 30,000 in February, according to Kpler data (Photo: Reuters)

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5 min read . Updated: 22 Jun 2022, 05:55 PM IST Anna Hirtenstein, The Wall Street Journal

Purchases by state-owned companies could limit the pain for Moscow from Western sanctions over the invasion of Ukraine

The Indian government has asked state oil companies to scoop up huge volumes of cheap crude from Russia, according to industry executives, strengthening commercial ties with the country even as the West tightens sanctions on Moscow.