Europe imports oil from Russia, through India.

Currently, there is an economic conflict between Russia and Europe, it stems from the ongoing tensions between Russia and Ukraine.
Interestingly, India, a country that does not produce oil, has become a significant exporter of fuel to Europe, providing a surprising twist to the situation.

Here’s what you need to know!

India emerging as the winner!

India is the winner in this Russia-Ukraine conflict. A recent report by analytics firm Kpler showed India has become Europe's largest supplier of refined fuels this month while simultaneously buying record amounts of Russian crude.

In April, it's anticipated that Russia's crude oil exports to India would top 2 million barrels per day, accounting for about 44% of the country's total oil imports.

How India became top exporter?

The European Union has banned the import of Russian crude but nations like India are snapping up discounted Russian crude, turning it into fuel like diesel and shipping it back to Europe in order to make money.

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day this month, edging just ahead of those of Saudi Arabia, and becoming the top supplier.

The art of hypocrisy!

The European Union on one hand have demonstrated to the world that they are taking tough measures against Russia, but on the other hand they are importing the Russian oil via another nation i.e., India.

Russia emerged as a major supplier to India for the first time in 2022-23 after it started giving oil at discounted rates amid the Ukraine war. Despite concerns raised by the West to India's imports from Russia during the war. India has taken a strong stand and said that it looks at all options to achieve energy security.

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