India set to get more channels to buy cheap Russian oil as new traders muscle in
India is set to get more channels to buy cheap Russian oil, with a new wave of smaller, international traders muscling into its vast market by offering barrels shunned by rivals after the invasion of Ukraine.
State-run refiners such as Indian Oil Corp NSE 1.25 %. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.
