India builds oil purchases from Russia at discount prices, after which Indian refinery processes it into oil products for the US market and EU countries, Bloomberg reports.
India itself, due to the import of Russian oil, covers 85% of its own needs, writes the newspaper.
According to the KPLER analytical company, last month India shipped about 89 thousand barrels of gasoline and diesel fuel in the United States last month, this is the maximum indicator in almost four years. Diesel fuel supplies with low sulfur diesel fuel to Europe in January amounted to 172 thousand barrels – a maximum of October 2021.
Since February 5, the oil embargo of the European Union and the maximum price of Russian oil – in the Council of Europe, agreed the ceiling of prices for Russian oil at $ 60 per barrel. The purchase of oil from the West from a country that does not enter the block does not contradict the EU rules, writes Bloomberg, and even corresponds to its policy – processing products, exporting from India, are no longer considered Russian.