INDIA TO BUYS CRUDE OIL FROM RUSSIA

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INDIA TO BUYS CRUDE OIL FROM RUSSIA  

  • India is buying crude oil from Russia  
  • Indian oil corporation and Bharat petroleum had already bought the crude oil 
  • Russia is selling its crude oil at a discount rate
  • IOC and BP  had already bought 2 million barrels and 1 million barrels

Indian oil companies are buying oils from Russia as they are selling its oils at a low rate due to the sanction held by America and western countries due to the invasion of Russia on Ukraine

Indian oil and Bharat Petroleum limits had already bought 2 million and 3 million barrels of crude oil from Russia and given a tender for buying another 1 million crude oil with the transport

Russia indeed needs this contract due as the invasion is going on. when the invasions starts all their exports stops due to the sanction held by the EU and North American countries.

India is buying oils despite the opposition from the EU and America. Experts say India can control the price hike in petrol and diesel  in their market from this decision as the crude oil price in the international market is high as above $130 


Location: United States

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