Dozens of Middlemen Drop Out of Trading Russian Oil to India ...Middle East

Dozens of small trading players and middlemen have recently dropped out of trading Russian crude oil to India, as Russia’s interest rates and costs to fund trades have soared, Reuters reported exclusively on Thursday, quoting trade sources and customs and shipping data. India, one of Russia’s top two markets to sell its oil banned in the West, now relies on Russian crude for a large part of its consumption. Since 2022, after the Russian invasion of Ukraine and the Western sanctions on Moscow, Russia has become India’s single biggest…

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