India, which is buying massive amounts of crude oil from Russia, is supplying fuel to European nations – a firm providing fuel transactions data claims

New Delhi – India’s refined fuel export to European countries has increased to 3,60,000 barrels per day. Due to this, India seems to have overtaken Saudi Arabia, which supplies fuel to European countries. Kepler Data, which records fuel transactions, gave this information. At the same time, ‘Kepler Data’ has also said that Russia’s fuel oil export to India increased to 2 million barrels per day in April. The company said Russia, Saudi Arabia and Iraq are the top three countries supplying fuel to India.

Moreover, after the conflict in Ukraine, the US and European countries tried to stop Russia’s fuel exports by imposing sanctions. Russia responded to the sanctions by offering to supply fuel to India at discounted rates. India took full advantage of this and started buying huge quantities of fuel from Russia. This has made Russia the largest supplier of crude oil to India within a short period. In April, Russia supplies about two million barrels of fuel oil to India daily. Kepler data informed that this fuel transaction between the two countries increased to 3.35 billion dollars in February.

Earlier, it was alleged that India supplied fuel to European countries by buying oil from Russia. Pakistani journalists and analysts claimed that Russian fuel oil was being supplied to European countries through India. Pakistani analysts say India has earned billions of dollars in this fuel transaction. Thus, Pakistan demanded Russia provide fuel oil to that nation, just like India. Meanwhile, during his US tour, India’s Petroleum Minister Hardeep Singh Puri was questioned about this in an interview.

Besides, an American journalist had accused India of taking fuel oil from Russia, processing it and selling it to the United States. In response, Hardeep Singh Puri said that the Indian government is not doing such business, but the private sector companies of India may be doing so. Kepler Data seems to have released information about India’s fuel transactions along the lines of this allegation in the United States.

Furthermore, the European countries stopped buying fuel from Russia post the Ukraine conflict. For this, the United States put pressure on European countries. For this, European countries prepared to purchase fuel from Saudi Arabia and other Middle East countries. But the Saudis and other Middle East countries refused to supply more fuel to the European countries, incurring the displeasure of Russia. Due to this, European countries in a dilemma and are meeting their needs by buying processed fuel oil from India. But while the European countries are buying 360,000 barrels of fuel oil per day from India, Kepler data pointed out that India is buying 200,000 barrels of fuel oil from Russia daily. This indirectly shows that European countries are still dependent on Russia for fuel.

Meanwhile, as the battle in Ukraine is unlikely to end soon, it is clear that European countries will have to buy refined fuel oil from India in the future. Indian fuel companies can benefit from this.

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