India’s Nayara Energy buys Urals after 1 year

Indian private refiner Nayara Energy, part-owned by Russia’s Rosneft, has purchased Russian oil after a gap of a year, buying about 1.8 million barrels of Urals from trader Trafigura, two trade sources said and Refinitiv data shows.

Indian companies are snapping up Russian oil as it is available at a deep discount after some companies and countries shunned purchases from Moscow due to sanctions against Moscow for its invasion of Ukraine.