March 20, 2025 [Reuters]- Russia has surpassed the United Arab Emirates as India’s top naphtha supplier in the year to March 2025, as refiners capitalise on discounted cargoes, preliminary ship-tracking data showed, a trend buyers expect to persist for another year.

India, the world’s third largest crude importer and oil consumer, has been relying on cheap oil from Russia to reduce import costs despite Western efforts to curtail Moscow’s revenues during the Ukraine war. Russia has been India’s top crude supplier for the past two years.

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