Russian Oil

Jaishankar’s upcoming Russia visit: What rupee-ruble trade means for India

During EAM S Jaishankar’s visit, the two sides are expected to identify specific projects where Russia can invest those funds parked in India

US sanctions firms across UAE, Hong Kong for violating Russian oil price cap, issues new compliance rules for shippers

The price cap coalition also announced Wednesday that it will soon require service providers, including shippers and movers of Russian oil, to receive attestations from their purchasers and sellers each time they lift or load Russian oil.

India's oil imports from Russia surge in November

As the world's third-largest importer and consumer of oil, India has increased its purchases of Russian oil, particularly at a discount after certain Western countries refrained from importing Russian oil due to its invasion of Ukraine last year.

India's import of Russian oil slipped to lowest in 9 months, OPEC's share hit a 10-month high 

India imported on average 1.56 million barrels per day (bpd) of Russian oil in October, up 1.2% from the previous month, the data showed. Despite the increase, Russian oil's share in India's October imports slipped to 33% from 35% in September.

US newly sanctioned tankers shipped Russian oil to India

In the short-term, sanctions may reduce the number of ships carrying Russian oil and prompt India to seek supplies elsewhere, but they are unlikely to stop the trade altogether due to its lucrative nature, several traders who declined to be named, said.

As India frowns on paying for Russian oil with yuan, some payments held up, sources say

India emerged as the top importer of Russian seaborne oil this year, with refiners snapping up the crude sold at a discount after some Western nations suspended imports from Moscow over its invasion of Ukraine.

Indian oil firms explore using $600 million stranded in Russia to buy oil

Soon after Russia's invasion of Ukraine in February last year, several major Russian banks were banned from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) financial transaction processing system, constricting Moscow's ability to access the global payments system.

India continues as top buyer of Russian Urals oil in August despite price hikes​​​

Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports - a record low since a European Union embargo on Russia's oil.

Ukraine using Russian oil to fuel its Western-supplied tanks

Ukrainian customs officials said that the Hungarian oil and gas giant MOL has 'doubled its sales to Ukraine in the past six months'

WATCH: EAM S Jaishankar's reply to EU diplomat seeking action against India for reselling Russian oil

Hours after EU Foreign policy chief Josep Borrell called for crackdown on India reselling Russian oil as refined fuels, including diesel, into Europe, EAM S Jaishankar on Tuesday advised the bloc's diplomat to have a look at EU Council regulations