India's Russian Oil Dilemma: US Pressure, Economic Impact, and Refinery Challenges

• India imports 85% of its oil, with Russian oil being a significant, cheap, and suitable source for Indian refineries.
• US pressure on India to stop Russian oil purchases intensifies, with tariff reductions offered in exchange for sourcing from the US and Venezuela.
• Switching to lighter American oil poses challenges for Indian refineries, requiring blending and increasing costs by up to $7 per barrel.
• Experts warn that completely stopping Russian oil imports would negatively impact the Indian economy, despite recent reductions in purchases.
• Russia acknowledges India's diversified oil sourcing, while India explores options from Iraq, UAE, Saudi Arabia, West Africa, and potentially Venezuela.