Despite Washington's Pressure.. India Acquires Russian Oil at Discounts

SadaNews - Russian crude shipments have become cheaper for India, at a time when U.S. President Donald Trump's administration intensifies its criticism of the oil trade between New Delhi and Moscow, considering it to be aiding in funding the war in Ukraine.

According to traders who received offers to purchase Russian Urals crude, its price has decreased to a discount ranging between $3 and $4 per barrel compared to Brent crude, for shipments scheduled for delivery in late September and October.

Although Washington has imposed punitive tariffs on India's imports of Russian crude, Indian refineries continued to purchase heavily. The repeated criticisms from U.S. officials, along with economic sanctions, have led Prime Minister Narendra Modi to affirm the strength of relations with Moscow.

Last week, Urals crude was offered at a discount of nearly $2.5 per barrel, compared to a discount of just $1 in July, while some Indian refineries bought American crude at a price $3 per barrel higher than "Brent".

Urals crude is considered the main grade of Russian oil and is shipped from the country's western ports. Since the outbreak of the war in Ukraine in 2022, India has become the largest importer of maritime supplies from the OPEC+ member.