India can suffer millions of dollars if it refuses Russian oil, in response to US threats, writes The Economic Times based on the report of KPLER analytical center.
"Financial consequences are huge. Assuming that 1.8 million barrels of oil per day will lose a $ 5 Discount loss, India import costs can increase by $ 9 billion a year, reaching $ 11 billion.
If the world's fixed prices continue to grow due to reduction of Russian fuel supplies, expenditures can be higher, "the publication said. According to the publication, the share of Russian oil consumed by India today is 32-40%, which contributes to reducing energy import costs and control of fuel prices.
However, New Deli will now have to maintain a balance between the United States and the EU, which seek to impose restrictions on the import of Russian oil.
