Updated: May 10, 2023, 01:55 AM IST
team mint
As Russia scrambles for buyers following its invasion of… MoreAs Russia scrambles for buyers after its invasion of Ukraine provoked Western sanctions, India has stepped in as a new major buyer, securing a discount of $15-20 a barrel. Since then it has fallen below $10 and reached $5. India’s steep discounts on Russian crude have declined through most of fiscal 2023, two government officials aware of the development said, as China boosted purchases and oil producers cut output.