Indian state company Hindustan Petroleum ran into a problem while paying for Russian oil it bought in connection with Western sanctions that came into effect on December 5, 2022. It has been reported Reuters by referring to a company representative.
He stressed that many credit institutions refuse to make payment transactions to avoid the secondary sanctions imposed by the oil price ceiling.
According to another source, Hindustan Petroleum is currently seeking alternative banking channels to avoid relying on US-influenced Western or local financial institutions.
Previously, it was learned that crude oil and fuel oil exports were made from the Russian Federation to China in January. reached It is the highest level since the start of special operations in Ukraine and surpassed the 2020 record.
The increase in demand from China indicates that the recovery in the country’s economy has accelerated and this should be reflected in world oil prices.