It is well known that India is getting crude oil cheaply due to the situation between Ukraine and Russia. According to the latest information, India is trying to make some changes in its oil imports from Russia. In this context, it asked Russia to give more concessions on oil than the price offered by Russia in advance and to sell it to India for less than $ 70 per barrel. It is well known that in the current context of sanctions imposed by many countries on Russia.
OPEC has proposed to this extent as it is likely to face risk from countries in this order. At present, the price of crude oil in the international market is around $ 108 per barrel. Already, Indian state-owned and private oil companies have bought 40 million barrels of crude oil since Russia announced a rebate. According to statistics, this is 20 per cent more than India's purchase of oil from Russia in 2021.
Due to the background of international sanctions .. Oil trade has become more rigorous for Russia. Moreover Russia has not been able to conduct their business transactions with another buyer so easily under the current circumstances. Due to imports from Russia at this time, India is likely to face difficulties with other countries in terms of trade in the future. In this context, India wants Russia to sell less than $ 70 a barrel of oil. It remains to be seen how the response to this proposal will come from Russia.
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