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Indian refiners negotiating 6-month deal with Russia to import oil: Report

India has already bought more than twice as much crude from Russia in the two months since its invasion of Ukraine on Feb.

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Western sanctions against Russia have prompted many oil importers to shun trade with Moscow, pushing spot prices for Russian crude into record discounts against other grades. (Photo: Bloomberg)

Reuters New Delhi
Indian refiners are negotiating a six-month oil deal with Russia to import millions of barrels per month, multiple sources with knowledge of the matter said, as the world's third largest importer seeks more Russian crude despite Western sanctions.

India has already bought more than twice as much crude from Russia in the two months since its invasion of Ukraine on Feb.

24 as it did in the whole of 2021, according to Reuters calculations. Russia calls the attack a "special military operation" to disarm Ukraine.

Western sanctions against Russia have prompted many oil importers to shun trade with Moscow, pushing

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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