From April 2023, India’s state bank, Bank of Baroda, does not accept payments for Russian oil above the ceiling price set by Western countries. In this respect informs Reuters, citing the source.
Agency sources pointed out that Bank of Baroda told its customers in March that it would stop paying for Russian oil, which would be above the ceiling price.
Reuters interlocutors added that the restrictions may affect sellers’ decision to switch to payment in rupees.
March 28 independent expert Kirill Rodionov declarationThat the largest importers of Russian oil from January 2022 to February 2023 are India and China, and oil products – African and Middle Eastern countries.
Prior to that, Deputy Prime Minister of the Russian Federation Alexander Novak said at the last meeting of the college of the Russian Ministry of Energy that in 2022 Russian oil exports to India increased 22 times. According to him, in 2022 most of the Russian energy supply was diverted to the markets of “friendly” countries. In 2023, Moscow will continue to work on the creation of a tanker fleet and the redirection of energy sources, including insurance and reinsurance vehicles.