India’s Russian Oil Intake Proves Resilient After U.S. Sanctions

India continued to import Russian crude at a rate of over 1 million barrels daily this month, despite U.S. sanctions on the two biggest exporters that came into effect in late November. Reuters reported today that the average daily so far this month has stood at 1.2 million barrels. That’s down from 1.77 million barrels in November, ahead of the sanctions, but nowhere near the sharp drop that many analysts forecast. Reuters used LSEG data for its report, as well as unnamed sources. One of these told the publication the rate of imports could…