How Russian Crude Discounts Benefit Indian Oil Companies | India Russia Oil Deal

Russia Oil import News: Since the Russia-Ukraine conflict began in 2022, India has become a significant purchaser of Russian crude oil. Despite sanctions imposed by other nations on Russia, India strategically procured Russian crude at substantial discounts. This move proved advantageous for Indian oil marketing companies, as evidenced by their supernormal gross margin during the 2022-2023 period. However, data shows that the Russian crude discount benefits have narrowed, despite its rising share in the total import bill.

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