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via thehindubusinessline.comEconomy

India pays record $6.4 billion to import Russian crude oil in October

FROM THE WIRE · THEHINDUBUSINESSLINE.COM

India spends a record €5.8 billion ($6.4B) on Russian crude in Oct 2026 as Hormuz closure fuels higher shipping and insurance costs.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishHigher shipping and insurance costs linked to the Hormuz closure support crude demand and prices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01India spent a record 5.8 billion euros (6.4 billion dollars) on Russian crude in October 2026.
  2. 02The Hormuz closure is raising shipping and insurance costs.
  3. 03Russian crude remains a key supply channel for India.

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