GENERICO.ruEconomicsIndia has found a way to pay for Russian oil

India has found a way to pay for Russian oil

India resumed purchases of Russian oil for dirhams

India has resumed purchases of Russian oil for dirhams

India resumed imports of Russian Sokol oil in February 2024 after a two-month break. This was reported by Reuters based on ship tracking data and source reports.

According to media reports, at least two state oil refineries accepted deliveries of this grade of oil. According to the source, payments for raw materials will most likely be made in the currency of the United Arab Emirates – dihramah.

It is stated that on February 13, a ship carrying about 85 thousand tons of Sokol oil was unloaded at the port of Mumbai. Last year, the republic's state-owned oil refineries were forced to stop purchasing this type of oil, as the country's authorities urged not to use Chinese yuan for payment due to tensions with China. This resulted in more than ten million barrels of unsold crude remaining in offshore storage, causing one of the largest disruptions to Russian oil trade since the imposition of sanctions against the Russian Federation.

It was previously reported that the European Union in 2023, purchased Russian oil, petroleum products and gas worth almost 30 billion euros.

Compared to 2022, trade between the European Union and Russia decreased by 2.9 times. This is partly due to high energy prices in 2022.

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