Latest EU Sanctions Prompt India Refiners to Turn to Traders ...Middle East

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Latest EU Sanctions Prompt India Refiners to Turn to Traders
source : OILPRICE ( Middle East ) () 111
Indian refiners would likely need to tap the services of fuel traders to find new markets for their output following the European Union’s approval of its 18th sanction package against Russia. The package specifically targets oil derivatives made from Russian crude in third countries. India is one of the largest buyers of Russian crude, and a lot of the fuels it makes from that crude end up on the European market—or so they did until last Friday. Per Reuters, India’s Reliance Industries, the biggest buyer of Russian crude, exported…

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