[/ATTACH][BR] India's oil imports from the US will increase by 11% this year, officials said on Saturday, as the country, which has a significant energy deficit, tries to secure supplies from producers around the world, including heavily sanctioned Russia, Reuters reported.
The surge in oil prices, following Russia's invasion of Ukraine, threatens to revive Indian inflation, drain public finances and hurt growth just as it was emerging from a pandemic-induced slowdown.
As Reuters reports, New Delhi faces criticism from the West for longstanding political and security ties with Moscow, with some saying that doing business with Russia helps fund its war.
(CNA)
CNA - Reuters
Contents of this article including associated images are owned by CNA
Views & opinions expressed are those of the author and/or CNA Source
