Petrol-diesel Price: Earning Rs 8,252 crore every month from Russian oil, know in whose pocket it was! – trading firms are making big fortune by delivering russian oil to india
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According to a Bloomberg report, trading companies are lifting Russia’s Ural crude from the Baltic region and transporting it to India’s west coast. This is giving them a margin of over $20 per barrel. Daily 1.5 million barrels of crude oil is reaching India from Russia. That is, trading companies are earning about one billion dollars every month. The European Union banned the import of Russian oil in December. Since then China and India are buying oil from there. Dubai companies are especially benefiting from this. Russia has good relations with the UAE and several trading companies have sprung up there recently.
Russia became the biggest supplier
Russia’s share in India’s total crude oil imports for the financial year ending March 31, 2022 was only 0.2 percent. But in the last month, there has been a tremendous jump in it. According to statistics, in December 2022, India has imported more than one million barrels of crude oil daily from Russia. Earlier, 9,09,403 barrels of crude oil was imported from Russia in November and 9,35,566 barrels of crude oil in October. In December, India imported 8,03,228 barrels of crude oil from Iraq and 7,18,357 barrels per day from Saudi Arabia.
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