“Now it’s business, not friendship.”
Vladimir Putin reportedly signaled that Russia may end special oil discounts for India, saying:
“You stopped buying our oil without informing us… now suddenly you want it again.”
According to the statement, Russian oil sales to India will now be treated strictly as business, meaning no more discounted crude deals.
• India became one of the largest buyers of discounted Russian oil after the Russian invasion of Ukraine.
• Cheap Russian crude helped India reduce import costs and inflation.
• If discounts disappear, India may need to buy more expensive oil from the Middle East, which could push global oil prices higher.
⛽ Oil: Potential bullish pressure if India shifts supply.
🇮🇳 India: Higher energy costs could impact inflation.
🌍 Geopolitics: Shows Russia tightening leverage over energy buyers.