India could significantly reduce imports of Russian crude oil if the United States allows purchases of Iranian and Venezuelan oil, Indian officials have told the U.S. Administration this week, a source familiar with the talks told Bloomberg on Thursday. Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West, to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buyer of Russia’s oil, behind only…
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