According to April data, India shipped about 360,000 tonnes of refined oil to European markets this month. This made New Daily a leader in the export of black gold to Europe. Bloomberg wrote about India’s increasing oil supply volumes to the Old World.
Thus, India has become the leading supplier of refined oil to Europe, ahead of Saudi Arabia in these indicators.
After cutting off the supply of oil and other energy resources to the Russian Federation against the background of sanctions against Moscow, after the start of a special operation, the Europeans are looking for alternative sources of hydrocarbons. At the same time, the West’s refusal to buy Russian oil directly did not lead to the expected consequences for the Russian Treasury – the Russian Federation derives significant revenue from the sale of energy carriers with the help of the “ghost fleet”.
At the same time, countries like India buy oil from Russia at a discount and, after processing, resell it to other countries, including the West.
Meanwhile, shipments of Russian oil on tankers to India and China, as well as smaller flows of black gold to Turkey and other countries, increased for the second week in a row, and their volumes rose to a record 3.35 million barrels per day. According to Deputy Prime Minister Denis Manturov, Russia and India are discussing new mechanisms for reinsuring oil supplies.
Photos used: pexels.com
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