India is staring at an 'oil shock' as U.S. sanctions on Russian crude loom

India’s days of buying cheap Russian oil may be over, as sweeping U.S. sanctions against Russian energy companies and oil transporters could complicate imports and lead to inflation. With 40% of its oil imports coming from Russia, India could face a potential oil shock due to the sanctions on 183 oil tankers transporting Russian crude. The impact is expected to be largest in India, as the country relies heavily on Russian oil and may struggle to find alternative sources.

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