 "Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on")
The spate of latest sanctions on Russian oil and gas entities by the US may cut off India's access to discounted Russian crude oil and force it to buy at market prices, official sources said on Monday. There may not be an immediate disruption, as volumes already in transit would take 6-8 weeks to reach India.
"There is no direct impact on us (India). The indirect impact is that the discounts on Russian crude oil that we were getting so far may stop. In that case, we have to buy at market prices. That's the worst case scenario," a senior
