China Increases Russian Oil Imports as India Reduces Purchases Amid Market Shifts

China's imports of Russian crude oil have reached record highs, aided by steep discounts and pipeline supplies, while India is reducing its Russian crude purchases, shifting toward Middle Eastern suppliers like Saudi Arabia and the UAE. This shift has led to increased Russian and Iranian oil supplies to China, prompting a price competition among Chinese refiners. The US Supreme Court ruling on import tariffs may allow India to continue buying Russian oil within certain limits, despite recent trade adjustments and geopolitical considerations.