India has saved $2.7 billion since the beginning of this year by purchasing oil from Russia at a discounted price due to Western sanctions. This is proven by calculations Reuters.
It is stated that Delhi has become the largest buyer of Russian oil, replacing the European Union in this field. India, which increased its purchases from the Russian Federation, reduced its supply of raw materials from the Middle East.
According to the Indian Ministry of Commerce, in the first nine months of 2023, the country purchased 69.06 million tonnes of oil from Russia. The average price, including shipping and insurance costs, was $525.6 per ton. During the same period, the average cost of oil supplied from Iraq to India was 564.46 dollars per ton.
20 October recognizedIt was stated that Indian officials rejected requests from Russian oil suppliers to make payments in yuan due to tense relations between Delhi and Beijing. This was reported by Bloomberg citing a senior official from India.
India before augmented Discounts of up to 8-10 dollars per barrel on Russian oil.