Oil’s New Map: How India turns Russia crude into the West’s fuel

(Bloomberg) — India is playing an increasingly important role in global oil markets, buying more and more cheap Russian oil and refining it into fuel for Europe and the US.

Yet New Delhi has faced little public blowback because it’s meeting the West’s twin goals of crimping Moscow’s energy revenue while preventing an oil supply shock. And as Europe ramps us sanctions, India is only going to become more central to a global oil map that’s been redrawn by Vladimir Putin’s year-long war in Ukraine.