India is negotiating deeper discounts on Russian crude oil whi | RussiaGate #Digest

India is negotiating deeper discounts on Russian crude oil which has become a toxic commodity since February, 24. Actually Delhi wants to pay less than $70 per barrel. Brent is $108 at the time.

Western sanctions has made Russian oil exports very problematic, and India is making the most of Russian difficulties. Delhi has been very opportunistic, buying over 40mln barrels of Russian crude since February, 24.

Russia has heavily discounted its oil and has no choice but to sell it in order to support its military efforts in Ukraine.