Tracking the economic indicators: Oil imports from Russia make a new record

US supplies were one the biggest casualties of Russian inroads into India's crude oil market

Indian imports of discounted crude oil from the Russian Federation hit an all-time high in April, even as the US progressively tightened the screws on exports of Russian crude, according to data analytics firms.

India imported about 59 million barrels of crude oil from Russia in April this year, against 58 million barrels in March and 12 million barrels a year ago, according to the data from  commodity market intelligence firm Kpler. Purchases averaged around 2 million barrels a day, predominantly of Russian Urals — a medium, sour grade similar to Gulf crude.

Russia accounted for 42 per cent of