India wants Russia to reduce the price of its oil to under $70 per barrel.

Recent sources suggest that, as a result of the punishing sanctions imposed on Moscow as a result of the Ukraine conflict, New Delhi is attempting to secure even more concessions on oil imports.

While India continues to buy crude oil from Russia at severe rates due to punishing sanctions imposed by Moscow on the Vladimir Putin-led country, recent reports imply that New Delhi is looking for even more concessions on Russian oil. India wants to buy oil cargoes for less than $70 per barrel.

It’s worth noting that, despite the Kremlin-led campaign, India remains one of the largest crude oil importers and one of the few customers of Russian oil.