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India faces $9–11 billion oil bill spike: Forced pivot from Russian crude after Trump's 'penalty' could hit margins- What analysts say

IndiaTimes Sunday, 3 August 2025
Amidst potential US penalties and EU sanctions, India faces a complex challenge in its Russian oil trade. A shift away from discounted Russian crude could inflate India's import bill by billions, impacting refiners and potentially destabilizing retail fuel prices. Despite claims, India continues to procure Russian oil, balancing economic factors with international norms.
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