‘Exaggerated’: India’s gains from discounted Russia oil just $2.5 bn, says CLSA; far below estimates

A CLSA report indicates India's savings from discounted Russian oil imports are around $2.5 billion annually, significantly less than media estimates. While India benefits from affordable energy, the discounts are offset by shipping costs and the need to blend with higher-quality oil. Halting Russian imports could spike global crude prices, highlighting India's role in stabilizing the market.