India is likely to continue buying Russian oil, said Ministry Sources. As per sources, India is looking for term contracts as sanctions allow purchases. This comes a day after West agreed on a $60 barrel price cap on Russian seaborne oil. The provision will come into effect from Dec 05. Western shipping would be prohibited from handling Russian oil. India has emerged as a top buyer of Russian oil after China. Since Ukraine war, Moscow has become New Delhi’s second-biggest oil supplier. Indian refiners would consider signing term deals with Russia if pricing terms are favourable.

#RussianOil #Putin #Russia

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