India's Fuel Bill May Rise By USD 9Bn In FY26 And 12 Billion In FY27, If It Stops Russian Oil Imports: SBI
India substantially increased purchasing of Russian oil since 2022, which was sold at a discount, capped at USD 60 per barrel, to ensure energy security after Western nations imposed sanctions on Moscow and avoided its supplies following the invasion of Ukraine.
Aug 08, 2025, 13:16 PM IST