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1. Which country is the largest importer of Russian oil?
India has emerged as the largest importer of Russian oil, surpassing China, with a significant increase in imports. Indian refiners are taking advantage of discounted crude rates due to Western sanctions, leading to a 12% year-over-year increase in imports. This development highlights India's growing energy demands and its strategic approach to securing oil supplies. The country's exploration efforts are also expanding, with plans to explore up to 16% of its sedimentary basins in 2024.