Why is India buying Russian oil at record levels
Business
India just snapped up 30 million barrels of Russian oil after getting a special waiver from the US
With the Middle East conflict affecting the Strait of Hormuz and cutting off supplies from Saudi Arabia and Iraq, India turned to Russia to keep things running smoothly at home.
India adapts to changing energy landscape
Thanks to the waiver, Indian Oil Corporation and Reliance Industries quickly grabbed unsold Russian oil on the spot market, even paying a bit extra over global prices.
This move shows how India is staying flexible with its energy sources, making sure fuel keeps flowing no matter what's happening around the world.