Tag: India purchase of Russian oil

NEW DELHI: The average cost of Russian crude landing on Indian shores in June was the lowest since Moscow’s invasion of Ukraine more than a year ago.The price for each barrel including freight costs was $68.17, down from $70.17 in May and $100.48 a year earlier, according to the latest figures from India’s Ministry of Commerce and Industry. While that’s higher than a $60 cap imposed by Western nations on Moscow, the threshold doesn’t include shipping.India has become one of the world’s top consumers of cheaper Russian crude...