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According to Russia Today on June 24, an Indian government official said that in the past three months, India's oil imports from Russia accounted for about 10% of total imports, compared with 0.
2%
before the Russian-Ukrainian conflict.
Indian refineries imported about 25 million barrels of oil from Russia in May alone, putting Russia ahead of Saudi Arabia as India's second-largest oil supplier, after Iraq
.
It is reported that India is the world's third largest oil consumer
.
Indian officials said they would continue to buy Russian oil because of discounts on prices, which are crucial
to controlling import costs.