2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Congo
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Tongo
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Tunisia
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Turkey
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Detailed explanation-1: -However, the import ban and price cap have halted seaborne flows of Russian crude to the bloc. According to a report by Bloomberg, the crude shunned by Europe has been diverted to Asia, with a flotilla of tankers steaming around the continent and through the Suez Canal to deliver cargoes to India and China.
Detailed explanation-2: -India’s purchases of Russian crude oil have shot up to 1.7 million barrels per day (bpd) in January which is a steep rise from 1.2 million bpd in December 2022– which was even then record-level buying.
Detailed explanation-3: -Russia, which made up for just 0.2% of all oil imported by India in the year to March 31, 2022, supplied 9,09,403 barrels per day (bpd) of crude oil to India in November. It now makes up for more than a fifth of India’s oil supplies.
Detailed explanation-4: -India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US.