New Delhi, March 2 -- India is likely to turn back to discounted Russian crude as tensions in West Asia disrupt flows through the Strait of Hormuz. Economists, however, believe India can absorb a short-lived oil shock unless the conflict drags on.

A prolonged conflict risks pushing Brent toward $100 a barrel, widening the current account deficit (CAD) and stoking inflationary pressures.

Although Russian imports had dipped after sanctions tightening and the announcement of India's interim trade deal framework with the US, supplies never fully halted, with refiners sourcing from non-sanctioned entities. With Gulf supplies now under threat, refiners are considering raising Russian imports, as this remains the most accessible and cost-effec...