After the introduction of Western sanctions, Asian countries filled the niche left by European buyers, the agency wrote.
India has been a leading buyer of Russian Urals oil for several months now. Reuters reported this on February 7.
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It was noted that the country filled the niche left by European buyers after the introduction of anti-Russian sanctions. About 70% of the Urals shipped in January were shipped to India.
At the same time, Moscow became New Delhi’s largest supplier of oil, replacing Iraq.
As the CEO said Rosneft Igor Sechin, speaking at an energy conference in India, today the price of Russian oil will be set outside Europe.
“If Russian oil does not go to the European market, then there will be no reference price. Reference prices will be formed where the amount of oil actually goes,” he stressed.
As the agency pointed out, amid the tightening of sanctions, the average price for Russian Urals oil in January was $49.48 per barrel, which is 42% lower than in January 2022.
It will be recalled that on December 5, 2022, a ban on the import of oil from the Russian Federation by sea was implemented.
In addition, more than 30 countries around the world have set a price ceiling for oil from Russia at $60 per barrel.
In Russia, oil and gas revenues fell 46%
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.