India finds itself balancing vital relationships with both Moscow and Washington. As the world’s third-largest oil consumer, India relies heavily on affordable energy to keep its fast-growing economy running smoothly.
The Importance of Russian Oil
Russian oil has become a crucial lifeline for India’s energy needs. With Western sanctions on Russia, India has secured discounted crude, allowing it to save billions and keep inflation in check. This affordable oil helps Indian refineries operate efficiently and keeps fuel prices more stable for consumers.
Can India Do Without Russian Oil?
Walking away from Russian oil won’t be easy for India. Alternatives might be costlier and less reliable, putting pressure on the economy and consumers. At the same time, India must carefully manage its international partnerships, especially as the US and Europe push for stricter sanctions against Russia. India’s strategy involves securing its energy future while maintaining diplomatic balance. Whether India can reduce its dependence on Russian oil will depend on global market dynamics and geopolitical shifts in the coming years.
Sources:
BBC News: Can India do without Russia?