In mid-March, the Indian authorities published data that confirmed the small size of the discount on the purchase of Russian oil. Namely, in January, India bought Russian oil at an average of USD 79.8 per barrel.
This was reported by the Internet publication The Bell, referring to the Bloomberg agency.
The average exchange price of Brent in January was USD 84 per barrel. Taxes to oil companies at the same time continued to be calculated based on the price of USD 50 per barrel of Urals.
A significant part of the difference was supposed to settle on foreign accounts of Russian oil companies, but the government can repatriate this money in one way or another.
According to Bloomberg, in just one year, Russia has accumulated USD 80 billion (approximately RUB 6 trillion) of "shadow reserves" abroad. All this suggests that the situation with real incomes may not be as bad as the budget statistics suggest.
Previously, American economists claimed that the average export price of Russian oil was USD 74, not around US d50, and the Urals discount to Brent as of late 2022 was only USD 7.
As Ukrainian News Agency earlier reported, India will adhere to the "price ceiling" for Russian oil.
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