New Delhi: Despite the exemption of Russian crude for India, $ 1.5-2 per barrel is useless despite shrinking as the need for market factors and input continues the choice of refiners between us and the European Union (European Union) pressure or in the absence of any government’s instruction against those imports.Arvinder Singh Sahni, president of Indians, said on Thursday, “We are buying crude according to economics. We are not making any extra effort to increase or reduce Russian crude (purchase).”Coming from India’s largest state-operated refiner and a prominent buyer of Russian crude, the statement can be considered as an indication that the government is uncontrolled by Western pressure against the purchase of those barrels.Sources in the government said that a team of officials of external and commerce ministries is ready to visit Russia for further discussion in Russia, both countries have been chased for years.Several Russian crude cargo was delivered to western ports last week, contrary to India’s foreign media reports to prevent the purchase of Russian oil. Describing those reports as “wrong”, Sahni reported that Russian oil was not approved like Iranian or Venezuela crude, but is only subject to a price cap.He said that after the US invasion of Russia in 2022, the price cap was fixed at $ 60/barrel between other karbas. The latest Karbs of the European Union have reduced the cap to $ 47 (on current oil prices). There is no curb on purchasing Russian oil within these conditions.Sahni said that even at a small discount, buying Russian oil (clean) can be understood for refiners if that particular grade yield patton is in line with the production plan at a given point. “If the pricing and characteristics of crude are in line with our plans for our processing, then we buy,” he said interpreting the monthly change in imports from Russia or America.Separately, officials of other refining companies said that the wind-down provision in the US penny on New Delhi allows the import of Russian raw colored loaded for seven days from the order, after which 25% of additional tariffs will be imposed on the export of Indian goods.An executive of the Major Refining Company requested, “We will continue to import Russian oil, but will not violate the restrictions.”
