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The U.S. has temporarily lifted some sanctions on Russian oil to stabilize global prices amid disruptions caused by the Iran conflict and existing sanctions on Russia. India is increasingly reliant on Russian oil, with imports expected to rise significantly, while the overall oil market remains vulnerable to supply shocks. Despite the geopolitical tensions, Russia is unlikely to raise prices significantly due to its dependence on India and China as major buyers.

Author

shouvik.cj

Language

EN