Bloomberg reported on the purchase of about 60 million barrels of Russian oil by Indian refineries

Indian oil refineries have purchased about 60 million barrels of oil from Russia, which is due to be delivered in April, using the temporary easing of the US sanctions regime. This was reported on March 25 by Bloomberg, citing sources.

It is noted that the contracts were concluded at a premium of $5 to $15 per barrel to the Brent benchmark. The volume of purchases for April corresponds to the March level, but is twice as high as in February, according to data from the analytical company Kpler.

Washington has granted New Delhi temporary permission to purchase Russian oil that has already been shipped to tankers to alleviate the shortage of raw materials that has arisen due to the closure of the Strait of Hormuz.

Delhi — time: India has not decided to abandon Russian oil

What will happen next with the supply of domestic raw materials and how this may affect prices

Russian Deputy Foreign Minister Andrei Rudenko said on March 23 that India and other countries are actively considering the possibility of increasing purchases of Russian oil, which arose due to the lifting of sanctions by US President Donald Trump on oil sales operations. On March 25, Russian Energy Minister Sergei Tsivilev noted that Russia was receiving new requests from most Asian countries for Russian energy supplies.

Kremlin spokesman Dmitry Peskov said on March 20 that if alternative markets, which are now in dire need of petroleum products, are "more attractive," Russia will focus on them first.

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