India turns to Canada for discounted crude oil as West tightens sanctions on Russia 

Oct 19, 2022
Hindustan Times

Indian refineries are taking advantage of the sharply discounted prices of Canadian oil. As per reports, a total of 3.3 million barrels of Access Western Blend, a crude grade produced Canada is scheduled to arrive in India next month. Even though Russia is not a major oil supplier to India, it has become our third largest supplier in the face of rising prices after the Ukraine war. At the same time, India is not interested in joining U.S led global initiative to put a price cap on Russian oil. When asked, Oil Minister Hardeep Singh Puri said that India will examine the proposal by the west.