40% increase in Indian oil purchases from Russia

Young Journalists Club | Latest news of Iran and world

News ID: 57106
Publish Date: 10:34 - 29 May 2022
Sunday, 29 May 2022 (YJC)_ Russia's oil purchases from Russia reached 400,000 barrels in March, up 40 percent from last year, the Russian Ministry of Commerce said.

40% increase in Indian oil purchases from RussiaRussia's oil shipments to India reached 396,000 barrels per day in March, the Russian Ministry of Commerce said in a statement. This figure is more than 15% higher than last month and 40% higher than the same period last year.

India has imported a total of 56.7 million tonnes of oil from Russia since the beginning of this year, up 12% from the same period last year.

According to Refinitive Icon, Russian Ural oil shipments to India have increased since the Russia-Ukraine conflict.

Western sanctions against Moscow have given Indian refineries the opportunity to increase oil purchases from Russia, which are offered at great discounts and which European customers refuse to receive.

According to media reports, the world's third-largest oil importer has sought Russian oil at less than $ 70 a barrel to offset the cost of additional positions due to sanctions.

Refinitive Icon statistics show that India's oil purchases from Russia are set to increase to 487,000 barrels per day this month.

russia ، india ، oil
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