Russia has found a new major buyer for oil

Indian refineries buy Russian oil
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news from the plot

Sanctions against Russia in general and the Urals in particular

Russia has found a new major buyer for oil. Indian refineries buy Russian Urals oil.

“India is seeking to buy more Russian oil at bargain prices as buyers from the United States to Europe avoid its oil after invading Ukraine,” Bloomberg reported. It noted that the Indian authorities are considering workarounds, including payments in local currency (rupees), pegged to the US dollar for the purchase of oil.

Earlier, Indian Oil and Natural Gas Minister Hardip Singh Puri said the country was leaving all options open to see how much Russian oil it could import. According to the Government of India, in 2021, the share of oil from Russia accounted for 2% of total purchases from abroad, or about 33 million barrels. The Middle East was the largest supplier to India, accounting for more than 60% of imports.

Reuters reports that the European Union is developing a fifth package of sanctions, including the imposition of an oil embargo to end Russia’s special operation in Ukraine. Earlier, Europe imposed a fourth package of sanctions against Russia. Western leaders have said that sanctions should hit the entire domestic economy, social and humanitarian spheres, every family and citizen of Russia. Russian President Vladimir Putin said that steps to worsen the lives of millions of people have all the hallmarks of aggression, war by economic, political and information means.

Sanctions against Russia by the EU and the United States were in response to Moscow’s announcement on February 24 of a special operation in Ukraine aimed, according to Russian leader Vladimir Putin, at denazification and demilitarization, but not occupation. Russian authorities have previously noted that the special operation in Ukraine is being carried out by force. Thus, at the celebration of the eighth anniversary of the reunification of Russia and Crimea, Russian President Vladimir Putin reminded that the task of the military is to save “people in Donbass from suffering, from genocide”: “Punitive military operations were organized against them, , subjected to systematic shelling from cannons, strikes by aircraft – all this is what is called “genocide”.

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Russia has found a new major buyer for oil. Indian refineries buy Russian Urals oil. “India is seeking to buy more Russian oil at bargain prices as buyers from the United States to Europe avoid its oil after invading Ukraine,” Bloomberg reported. It noted that the Indian authorities are considering workarounds, including payments in local currency (rupees), pegged to the US dollar for the purchase of oil. Earlier, Indian Oil and Natural Gas Minister Hardip Singh Puri said the country was leaving all options open to see how much Russian oil it could import. According to the Government of India, in 2021, the share of oil from Russia accounted for 2% of total purchases from abroad, or about 33 million barrels. The Middle East was the largest supplier to India, accounting for more than 60% of imports. Reuters reports that the European Union is developing a fifth package of sanctions, including the imposition of an oil embargo to end Russia’s special operation in Ukraine. Earlier, Europe imposed a fourth package of sanctions against Russia. Western leaders have said that sanctions should hit the entire domestic economy, social and humanitarian spheres, every family and citizen of Russia. Russian President Vladimir Putin said that steps to worsen the lives of millions of people have all the hallmarks of aggression, war by economic, political and information means. Sanctions against Russia by the EU and the United States were in response to Moscow’s announcement on February 24 of a special operation in Ukraine aimed, according to Russian leader Vladimir Putin, at denazification and demilitarization, but not occupation. Russian authorities have previously noted that the special operation in Ukraine is being carried out by force. Thus, at the celebration of the eighth anniversary of the reunification of Russia and Crimea, Russian President Vladimir Putin reminded that the task of the military is to save “people in Donbass from suffering, from genocide”: “Punitive military operations were organized against them, , subjected to systematic shelling from cannons, strikes by aircraft – all this is what is called “genocide”.

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