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Payment woes delay supply of Russian oil to India
Mint Mumbai
|December 27, 2023
Shipments of Russian Sokol crude oil to Indian Oil Corp (IOC) have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two people familiar with the matter said.
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IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC, a unit of Rosneft, people said.
Indian state refiners settle oil trade with Russia in United Arab Emirates dirhams after the government advised them against use of the Chinese yuan, though private refiners are still paying in yuan owing to a lack of alternatives.
यह कहानी Mint Mumbai के December 27, 2023 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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