Slight pause: India's crude oil imports from Russia decline in June

India paid around $70 per barrel in May for Russian crude on a delivered basis, according to Indian Customs data

Indian imports of crude oil from the Russian Federation, which were 7 per cent cheaper than the Indian crude basket and 17 per cent less expensive than Saudi Arabian crude in May, hit a slight pause in June after reaching an all-time high in May, reveals trade and shipping data. India imported roughly 2.1 million barrels per day of Russian crude in June, down 2 per cent from 2.15 million barrels per day in May, according to data from Paris-headquartered commodity market intelligence firm Kpler.

But imports rose 87 per cent from June 2022 levels, four months after Russia launched an