Russia resumed deliveries of diesel fuel to India
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At the end of February 2023, Russian oil companies sent three batches of diesel fuel to India for the first time since July 2021, Viktor Katonia, a senior analyst at Kpler, told Vedomosti. The first deliveries of Russian diesel fuel after a long break began after the Indian authorities reduced the export duty. Since February 15, it has decreased 6 times from $12/bbl. up to $2/bbl, which allowed Indian companies to supply fuel abroad.
In July 2022, India introduced a “contingency” tax on crude oil producers and a levy on motor fuel exports. This was done in order to limit the export of jet fuel and diesel by private refineries abroad and thereby prevent a shortage in the domestic market.
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