India selling Russian oil! Know what is the matter

Uttrakhand,India: Amidst the sanctions imposed on Russia, India has increased the import of Russian crude oil. India is buying Russian crude oil at a huge discount of 30 per cent, which has hit the US, UK and Europe’s efforts to harm Russia economically by imposing sanctions.

Amidst these sanctions from Western countries, Russia exported oil worth $ 20 billion in May. But now the concern is being raised that Russia’s oil is being transported to Europe through India.

The quantity India is buying and exporting Russia’s oil shows that some of that crude oil is going to filling stations in Europe.However, it is not yet clear where the crude oil brought by SCF PRIMORYE oil tanker will be used.

The owner of Vadinagar oil refinery did not give any information regarding whether they are sending Russian oil to Europe or not.

In May, India imported about eight lakh barrels of crude oil per day from Russia. Rating agency Fitch estimates that this import may soon increase to one million barrels per day of India’s total imports.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: