Relationships rumoured to decline, Russia suffer a huge loss in world market

It is rumoured that closeness between China and Russia has become the primary reason  for India’s backout from their oil business. Currently, the third largest oil importer is seen purchasing 863,950 barrels of crude oil per day from its neighbouring country, Saudi Arabia.

Higher intake of Caspian sea oil, mainly from Kazakhstan, Russia and Azerbaijan, have hit India’s purchases from Africa and other countries. African oil’s share in August halved to 4.2% while Latin America’s share fell to 5.3% from about 7.7%, the data showed.

In August, the United Arab Emirates held the fourth position while Kazakhstan replaced Kuwait to become fifth-largest oil supplier to India, followed by the United States.

Though the inners from the ministry has been justifying this move when questioned through various statistics, but economic experts assure it to be India’s biggest blow during the hard times of Russia. According to some, India is planning a “COLD ECONOMIC WAR” against one of the biggies of world market. Hence, this move clearly indicates their stand.

Sounds Interesting? Share it now!

You May Also Like


Guest User

 Terms of use | Privacy | Developer

Follow us on:


Hi Guest User, here you'll get notifications about New Updates, Announcements & more...

Mobile Marketing Pana

Become A Social Media Manager!

LinkedIn reported that social media managers are the third most in-demand marketing position by posting volume in 2022. Learn, study & Acquire Practical Experience as a Social Media Manager & Get a Free Certificate!


Oops...Sorry !

You have to Login to start creating on Youthesta.

Don’t have an account? Register Now

Not from Behala College but still Interested? Request