Torbjorn Tornkvist, head of Gunvor, one of the largest energy traders, said that an important factor for the global market is the Russian Federation’s ability to continue to sell oil. It has been reported DEA News.
“There is now an understanding that Russia can continue to sell oil, and this is a very, very important factor for the global system,” Tornqvist said.
It was previously known that oil discounts from Russia from April to December last year did not help India to significantly lower the average cost of raw materials.
Information about the large discounts provided by Russia allowed analysts to take other figures. According to The Indian Express, the country spent a total of $126.51 billion on oil purchases, about $22 billion of which was received by the Russian Federation.
Citing senior US State Department officials before that, Bloomberg said: reportedIndia buys oil from Russia at a price well below the ceiling imposed by Western countries.