India shifts to Russian and Latin American crude amid Middle East supply drop

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India has increased its crude oil imports from Russia and Latin American nations to compensate for a decline in Middle Eastern supplies. The reduction in Gulf crude flows was triggered by disruptions to shipping traffic through the Strait of Hormuz, a strategically critical waterway. India's ability to ramp up Russian oil purchases was enabled after Washington issued a temporary sanctions waiver. The move reflects India's strategy of diversifying its energy sources to maintain stable supply levels. The shift underscores how geopolitical tensions in the Middle East are reshaping global crude trade flows.

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