India’s record Russian oil buys expose limits of U.S. sanctions

India’s record Russian oil buys expose limits of U.S. sanctions

India’s July Russian crude imports hit a record 2.8 million barrels per day, now over 55% of total imports.
The Strait of Hormuz and Bab al-Mandab closures have cut off alternative supply routes.
Ukrainian drone strikes on Russian refineries have increased cheap crude available for export.
Congress is considering the Graham Sanctioning Russia Act allowing 100% tariffs on top Russian oil buyers.
Critics warn tariffs will raise American consumer prices and could push India closer to China.

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