The End of a Lucrative Deal After Russia’s full-scale invasion of Ukraine, most EU countries cut off their imports of Russian crude oil. The Kremlin needed alternative destinations for its primary export and offered India discounts of $20–$25 per barrel in comparison to the internationally-set Brent Crude index. As a result, Russia’s share of Indian oil imports rose – despite continuing high freight costs – from a pre-war average of 2 percent to 39 percent by 2023. Over time, however, this