India Signals a 50% Cut in Russian Oil Imports Under U.S. Sanctions Pressure

India could reduce its imports of Russian crude oil by 50%, a former foreign minister in New Delhi told local media, noting that both India and Russia would nevertheless look for ways to go around U.S. sanctions to keep some oil flowing. “We will be gradually reducing oil purchases from Russia…Already there is a reduction, and there’ll be more reduction. It will be more like a 50 per cent reduction. But some oil will still come,” Kanwal Sibal said, as quoted by Business Today. “On oil purchases, certainl ...