Ukrainian President Volodymyr Zelensky said on Friday that if countries, including India, stop buying discounted oil from Russia, Russia will face “big challenges.” Despite sanctions imposed after Russia’s invasion of Ukraine in February 2022, India continues to buy oil from Russia, which has faced criticism from Western countries. Before the Ukraine war, India imported less than 1% of its oil from Russia. Now, this has increased to about 40% of India’s total oil imports.
Pointing to important oil contracts between India and Russia, Zelensky said, “Putin fears the collapse of the economy. Their main resource is oil; they have an energy-based economy and are export-oriented.”
He added that if countries like India and others stop buying discounted oil from Russia, it will create “big challenges” for Russia.
