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... fuel. A significant portion of these petroleum products is exported by Indians to external markets, including to the U.S. and the EU. In some cases, Indian petroleum products made from Russian oil have even replaced Russian products in the European market," says Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation and the National Energy Security Fund (FNEB). India does buy the ultra-light low-sulfur oil from the U.S., but for its refining, it needs to be blended with heavier grades of oil, including ...

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