1 year of Ukraine war: Cheaper crude from Russia pushes India's import bill

Exports to Russia contracted 13.5 per cent at $2.2 billion during the first three quarters of the current fiscal year

Shreya Nandi | New Delhi
Last Updated at February 23, 2023 22:46 IST

Photo: Bloomberg

In a year since Russia invaded Ukraine, Moscow has leapfrogged to become India’s fifth largest trade partner from 25th spot in FY22. Trade between India and the sanctions-hit Russia touched $35 billion during the April-December period. In contrast, the size of the trade was almost a fourth, at $9.1 billion, the data showed.

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