India increases the procurements of Russian oil

TASS reports that India has become the main consumer of RF oil. It happened after December 5, when the EC embargoed the sea transportation of oil from the RF. A price ceiling was introduced for deliveries to other countries.

According to general estimates, the share of sea transportation of Russian raw materials to India is now 42% of the total. In February, almost nothing was delivered there, and 70% of raw materials were exported to the EU and the UK.

According to experts, it isn’t known now who is the buyer of the remaining 20% ​​of Russian oil. It is possible that some of these sales also come from India.

The authors of the report indicate that the RF, in most cases, managed to rebuild the supply chain and arrange shipments of raw materials. But to achieve it, it had to make serious discounts to customers.

The Financial Times reports that the supply of raw materials to India doesn’t violate the requirements of the price ceiling, i.e. the price of raw materials is less than $60 per barrel. As for Reuters, according to its sources, Indian factories are buying Russian raw materials at prices well below the ceiling.