{"id":43283,"date":"2024-11-09T12:03:48","date_gmt":"2024-11-09T12:03:48","guid":{"rendered":"https:\/\/gyalchisarshog.com\/?p=43283"},"modified":"2024-11-09T12:03:51","modified_gmt":"2024-11-09T12:03:51","slug":"india-says-oil-prices-would-have-rocketed-without-its-russian-imports","status":"publish","type":"post","link":"https:\/\/gyalchisarshog.com\/?p=43283","title":{"rendered":"India says oil prices would have rocketed without its Russian imports"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">(Reuters)    <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NEW DELHI, Nov 9 &#8211; Global oil prices &#8220;would have hit the roof&#8221; if big importer India had not bought oil from Russia following the Ukraine war, India&#8217;s oil minister said, adding that prices would determine where the country buys oil from.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">India, the world&#8217;s third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine&#8217;s invasion began in early 2022. Before that, India bought little oil from its long-running defence partner, Russia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in check in the developing country of 1.42 billion people.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;What many around the world don\u2019t seem to realise is that global oil prices would have hit the roof if India had not bought oil from Russia,&#8221; India&#8217;s oil minister, Hardeep Singh Puri, wrote on X late on Friday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;We owe it to our citizens &#8211; India will buy oil from wherever our companies get the best rates.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">India&#8217;s&nbsp;<a href=\"https:\/\/www.reuters.com\/business\/energy\/indias-russian-oil-imports-rise-117-sept-aug-data-shows-2024-10-16\/\">crude oil imports<\/a>&nbsp;from Russia rose by 11.7% to about 1.9 million barrels per day in September, accounting for about two-fifths of the South Asian nation&#8217;s overall crude imports in the month. Russia was followed by Iraq and Saudi Arabia as India&#8217;s biggest suppliers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) NEW DELHI, Nov 9 &#8211; Global oil prices &#8220;would have hit the roof&#8221; if big importer India had not bought oil from Russia following the Ukraine war, India&#8217;s oil minister said, adding that prices would determine where the country buys oil from. India, the world&#8217;s third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine&#8217;s invasion began in early 2022. Before that, India bought little oil from its long-running defence partner, Russia. New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in&#8230; <\/p>\n","protected":false},"author":1,"featured_media":43284,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-43283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/43283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43283"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/43283\/revisions"}],"predecessor-version":[{"id":43285,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/43283\/revisions\/43285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/43284"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}