Bank of Baroda, which is majority owned by the Government of India, has not made payments for Russian oil sold at prices above the «ceiling» set by Western countries. This is reported by Reuters, citing sources.
According to the interlocutors of the agency, some Indian oil refineries used to pay for deals on Russian oil to traders in the UAE in dirhams if the price was above $60 per barrel. Sources believe that the cessation of processing such transactions will lead to an increase in the proportion of payments in rupees.
«The Bank of Baroda is extremely sensitive to payments for oil from Russia at prices above the ceiling,» one of the sources from the representatives was quoted as saying. refining industry. — And we were told not to make payments above the ceiling.»
Reuters indicates that representatives of the bank did not respond to a request from journalists for comment on this information.