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 since the war, along with China. Data from Kpler shows Indian imports dipping over the past two months,
