“Russia has started importing refined fuel from India by sea in a bid to mitigate critical domestic fuel shortages triggered by sustained Ukrainian drone attacks on its energy infrastructure. In an exclusive Reuters report, industry sources revealed that an initial shipment of at least 60,000 metric tons (510,000 barrels) of gasoline has been dispatched from India via two tankers destined for Russian ports.”
“Ukrainian drone strikes have knocked offline roughly 30% of Russia’s oil refining capacity…”
“Last week, the Russian parliament approved urgent tax amendments offering subsidies for fuel imports. These subsidies are explicitly pegged to Indian delivery costs and port prices to make maritime imports economically viable…”
“India has become an unlikely supplier to Russia’s fuel market. After buying record volumes of discounted Russian crude, Indian refiners are now exporting gasoline back to Russia as domestic shortages worsen. India imported roughly 2.6 million to 2.7 million barrels per day of Russian crude in June, more than half of its total oil imports. Those refineries have ample capacity to process the crude into gasoline and other fuels, allowing India to supply markets that Russia can no longer fully serve itself.”