India risks sanctions if it continues to oil its cogs with Russian crude
The country, taking advantage of lower prices, has thrown Russia a lifeline, but cheap could come at a cost
Indian oil refiners are sucking up cheap Russian crude, but the risk is that their exports of refined products will eventually attract sanctions from countries determined to cut Russian energy out of global markets.
Imports of Russian crude by India hit a record high in May and will likely rise again in June, according to data compiled by commodity analysts at Kpler in Brussels.
India imported 840,645 barrels per day (BPD) of Russian crude in May, up from 388,666 in April and 136,774 in May last year, the data showed...