Russia tempts India with the biggest discount on the price of oil to bypass US sanctions
Russia has offered to sell oil to Indian refiners at the cheapest price in two years, after US sanctions on my company "Rosneft" and"Lukoil" The two Russian giants have led to the stagnation of Russian Urals crude.
Russian Urals crude is currently being offered to Indian refineries at a discount of up to 7 Dollars per barrel, compared to Brentdated on a delivery basis, informed sources told "Bloomberg"today, Monday, indicating that the offer includes shipments that load in December and arrive in January 2026.
Most Indian refiners have given up submitting purchase orders Russian Oil, after sanctions were imposed on my company "Rosneft" and"Lukoil" It took effect last week, ending a trade that had flourished after Russia’s war in Ukrainein 2022, as India benefited from the continuous flow of oil at cheap prices.
The sources explained that the tone of the Indian refineries has changed in recent days under the temptation of low-priced Urals crude, as some refineries are now open to buying Russian oil from sellers not subject to sanctions.
And before the sanctions were imposed on "Rosneft" and"Lukoil"The discount on the price of Urals crude was about $3 per barrel. Since the imposition of US sanctions, Indian refiners have increased their purchases of crude oil from other regions, including the Middle East.
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