Indian oil refiners are likely to increase oil imports from the aggressor country of russia in the near future, as moscow has more than doubled its discounts on raw materials.
Bloomberg reported this, citing its own sources.
The agency's unnamed interlocutors said that November futures for russian Urals crude are sold at a discount of USD 2 to USD 2.5 per barrel. This makes it more attractive than the benchmark Brent.
Bloomberg sources added that in the second half of the summer, russia sold its oil at a discount of about USD 1 per barrel. Thus, moscow has more than doubled its oil discounts.
The agency's interlocutors emphasized that at this stage it remains unclear whether Indian companies will continue to increase purchases of russian oil at a discount, given the trade negotiations between India and the United States.
As the Ukrainian News agency earlier reported, in late September it became known, that India asks the US for permission to buy oil from Iran or Venezuela, which are under Washington's sanctions.
As a reminder, The Washington Post wrote earlier that the company of India's richest man has bought USD 33 billion worth of russian oil since the beginning of russia's full-scale invasion of Ukraine.
In September this year, US President Donald Trump said that the fall in world oil prices would force russia to withdraw from Ukraine.
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