Rosneft, the largest oil producer in Russia, will send seven raw cargo to India’s top return, Indian Oil Corporation, this month, traders with knowledge about the agreement told Reuters on Friday. Since the beginning of the Russian War in Ukraine, India-buying crude oil that has been sensitive to prices that have criticized OPEC and OPEC+ for maintaining the price of oil “highly artificial“-have increased the purchase of Russian crude oil. Before the war, Indian rectors rarely buy oil from Russia on such a scale because of high shipping costs.
Now, according to Reuters sources, Rosneft will contain seven 100,000 tons of cargo from a mixture of urral from the Russian Baltic Sea Port in the second half of May.

Ural, a mixture of Russian mainstay crude oil, usually sold in Europe before the war in Ukraine, due to closeness to the Russian port in the Baltic Sea and the Black Sea. However, after the invasion of Ukraine, Penytiling and Western traders have begun to avoid Russian crude oil and are expected to continue to do so for years because the EU is considering the details of applying full embargo to all Russian oil imports.

Large international traders have said they will cut or remove the purchase of Russian crude oil in the coming weeks.

India, the third largest oil importer in the world, reportedly negotiated steep discounts for Russian oil that was ready to be purchased, asking under $ 70 per barrel price to offset logistics, financing, and sanctions for buying crude oil which is now mostly poisonous.
The cheap Russian barrel now seems unbearable for Indian refiners, despite a warning from the United States that buying Putin oil is not for the best interests of New Delhi.

The cheap Russian barrel now seems unbearable for Indian refiners, despite a warning from the United States that buying Putin oil is not for the best interests of New Delhi.