India intends to double oil imports from Russia

"India intends to double its imports of Russian oil, taking advantage of solid rebates offered by state-owned Rosneft over Russia's international isolation," Bloomberg told US sources, citing such plans by Indian state-owned companies.

 

"State-owned refineries (in India) are working together to complete negotiations and conclude new six-month contracts to purchase Russian oil," they said.

 

It is noted that the quantities of oil, its transportation and insurance are currently being discussed.

 

India has long been interested in opportunities to increase Russian oil supplies, with the United States, the European Union, the United Kingdom and other Western nations severely restricting hydrocarbon imports from Russia as a result of the sanctions on Russia.

 

 

Last week, the US State Department sent letters to Italy's Eni SpA and Spain's Repsol SA about the possibility of resuming oil imports from Venezuela. This should compensate for the cessation of imports from Russia and reduce the energy deficit in the European market."