Chaos on the market: Why India requires record discounts on Russian oil

To spread: Indian importers of Russian oil began to demand from suppliers more significant discounts, citing an increase in trade risks. Buyers insist on a price reduction by about $ 10 per barrel to Brent to meet the set ceiling. For comparison, in September, the amount of discounts was only 2-3 dollars. About it reports Reuters.

The strengthening of requirements is related to the actions of international banks that have strengthened the audits of agreements due to differences in US and EU policy on Russian oil. From October 1, the European Union reduced the ceiling of prices from $ 60 to $ 47. 60 per barrel, while Washington refused to support this decision. At the same time, Brent oil traded $ 67 last week. Russian sellers consider new Indians to be excessive.

According to them, some of the October parties can be redefined in China, which will reduce the volume for India. In October, the deliveries will be reduced to 1. 4 million barrels a day against 1. 5 million in August and 1. 6 million in September. The final data will depend on the negotiations in the coming weeks. Even with an expansion of up to $ 10, the price of Russian oil will still remain higher than the new EU ceiling and the United Kingdom.

At the same time, the European Commission intends to coordinate a single level of prices with the G7 countries, emphasizing that the restriction retains values, because Western carriers are still involved in transportation. Experts say that the differences between the US and the EU increase the confusion in the market and reduce the effectiveness of sanctions. Russia is actively involved in the "shadow fleet" of tankers with national insurance, which allows to bypass the ceiling of prices.

According to analysts, since 2022 Russian companies have successfully used such schemes or resort to forgery. "Restrictions will be an obstacle, but they will not create a serious threat," - said the partner of the consulting firm Prism Strategic Intelligence Benjamin Godwin. According to him, the rigid and agreed policy of the event could be more striking in the Russian oil and gas industry, but such steps would have caused shock in the world market.

We will remind that on the evening of September 8 it became known that Ukrainian percussion drones attacked the settlement of Penkino in the Volodymyr region, set fire to the oil pumping station "Vesorovo" of the company "Transneft". This station supplies diesel to Moscow. As a result, residents of the capital may face problems at gas stations.