New Delhi, Aug. 13 -- If Russian oil exports were to be disrupted, it could create a major problem for the global economy, however, for India, the impact is expected to be limited, according to a report by Bank of Baroda.

The report stated that according to estimates, the effect on India's oil import bill would be around USD 5 billion annually, an amount considered manageable given the country's overall trade size.

It stated, "For the world economy there could be a greater problem if there is a full embargo on Russian oil exports".

The report mentioned that India's crude oil sourcing pattern has changed significantly in recent years. Before the Ukraine war in 2021-22, Russia's share in India's crude oil imports was modest.

By 2024-25,...