Western sanctions have exacerbated payment issues, and Russia's crude oil imports to India have declined



According to reports,热门新闻 due to the exacerbation of Western sanctions, Russia's imports of crude oil to India have declined.

The article pointed out: "After the highest historical record of 2.15 million barrels per day in May, the amount of oil from Russia decreased from Russia, and experienced a sharp decline in from November to December last year to 1.48 million barrels per day last month.Condition."

Analysts pointed out that because of the continuous strengthening of sanctions, crude oil cannot be delivered due to payment problems.

Cause

The Indian refinery purchased an average of 140,000 barrels of crude oil per day in 2023, but failed to receive any such shipping last month.

Companies that mining oil in the Far East of Russia cannot open a bank account in the United Arab Emirates to allow buyers to pay Diram.Victor Katona, chief product analyst of KPler, said two of the six oil tankers parked on the Indian coast indicating that the routes might change the route to China.

Russian and Indian trade continues

Bloomberg hinted that crude oil trade between Russia and India may continue.

Catoner said: "Three additional ships of goods and three new goods and three new goods -Antarctica, American Leopard, and Oriental Prospects now indicate that India is their ultimate destination."

Throughout 2023, India's oil imports turned from Russia's oil in the same period last year to reach 1.79 million barrels per day, and oil imports from Iraq, as the second largest supplier, reduced by 11%to908,000 barrels per day.

Russian oil export

Petroleum export revenue constitutes the pillar of Russian budget and supports Moscow's military economy.

The European Union prohibits the import of crude oil and petroleum products from Russia.The consequences of this oil ban on Russia are huge, because nearly half of its total oil exports flow to the European Union.In 2021, the EU imported 71 billion euros from Russia, including 48 billion euros of crude oil and 23 billion euros of oil products.The loss of this main income market has an important structural impact on Russia, and its budget is seriously dependent on oil income.