India began to earn in the US at the expense of Russian oil
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New York has significantly increased its imports of gasoline and diesel from India, according to Bloomberg. In January, India accounted for 40 percent of the state’s total imports of 89,000 bpd, the highest in four years.
The agency notes that India has begun to earn more on the export of petroleum products at the expense of Russian oil, which it buys at a big discount.
So last month, an average of 1.39 million barrels went into the country. In general, since June last year, Russia has become the main supplier of oil to India.
Indian shipments allow the US East Coast to offset supplies from Europe, as EU sanctions on Russian oil and petroleum products have affected the amount of fuel Europe can export.
On December 5 last year, the EU imposed a ban on the import of Russian oil delivered by sea. On Monday, February 5, the EU embargo on the supply of Russian oil products should come into force.
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