Скачать или смотреть Russian Oil Exports To India Will Get More Expensive As Discounts Likely To Go | Business News

India that imported 40% of its total oil from Russia last year, will now face the heat of lowering of discounts and higher oil prices from the sanction-laden state of Russia.

As Russia gears up for levelling its oil prices back to those of competitors from the OPEC region, India's oil import bill could surge. But that's not all. Exports of refined oil from India to Europe will also get dearer.

Indian refiners have emerged as the largest consumers of discounted Russian crude oil imports in 2022. However, the transparency of shipping charges imposed by the Russian-arranged firm remains unclear. While Russia invoices Indian refiners below the agreed-upon price cap of $60 per barrel set by the West, the actual shipping charges range from $11 to $19 per barrel.

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