Varanasi Stock：India said the purchase of Russian oil has saved a lot of funds
According to July 11, from April 2022 to May 2024, Indian refinery companies purchased Russian raw materials at least $ 10.5 billion.The local newspaper "India Express" quoted the official trade data of the republic announced the huge interests of this Asian country.The Berlos Ideal Society reported this.Varanasi Stock
A large savings for buying Russia’s oil are mainly due to the context of the implementation of large -scale sanctions in the National and Australia of the Seventh Kingdoms Group and Australia, Russia hopes to diversify the supply from west to east.In view of this, Russia is forced to sell raw materials to Asian buyers with a large discount to increase its influence in the local energy market.Ahmedabad Stock
In recent years, Russia’s supply of raw materials in China has increased significantly, and it has also become one of India’s major trading partners.On the contrary, Western countries will reduce the procurement of Russian raw materials to a minimum.Indian oil refining companies have also used this situation to actively purchase "discount barrels" from Russia.The material summarizes: "The Russian Federation used to be a feasting participant in the Indian oil market, but now it is the largest oil supply country in New Delhi."
However, recently, Russian flagship products Ural’s oil supply discount has begun to decline.Therefore, according to analysts of the International Energy Agency (IEA), in June, the export discount of Russia’s domestic raw materials to Dubai levels fell to $ 4.07 per barrel, a decrease of $ 1.7.However, as experts pointed out, this factor did not help Russian commodity exporters increase their income.As of the end of June, total sales revenue of oil and oil products decreased by $ 190 million to $ 16.7 billion.(White Ross Ideal Society)
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