{"id":17885,"date":"2024-04-04T06:47:53","date_gmt":"2024-04-04T06:47:53","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/04\/china-pips-india-to-become-largest-buyer-of-sea-borne-russian-crude-at-deeply-discounted-prices-times-of-india\/"},"modified":"2024-04-04T06:47:54","modified_gmt":"2024-04-04T06:47:54","slug":"china-pips-india-to-become-largest-buyer-of-sea-borne-russian-crude-at-deeply-discounted-prices-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/04\/china-pips-india-to-become-largest-buyer-of-sea-borne-russian-crude-at-deeply-discounted-prices-times-of-india\/","title":{"rendered":"China pips India to become largest buyer of sea-borne Russian crude at deeply discounted prices &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"5048\" height=\"2840\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/photo\/msid-109024941,imgsize-233724.cms?fit=5048,2840&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"China pips India to become largest buyer of sea-borne Russian crude at deeply discounted prices &#8211; Times of India\" title=\"China pips India to become largest buyer of sea-borne Russian crude at deeply discounted prices &#8211; Times of India\" \/><\/div>\n<div>China pips India in buying Russian oil! India is no longer the top buyer of seaborne Russian oil. The country has been forced to reject some cargoes of sea-borne <!-- -->Russian oil<!-- --> because of sanctions. China is now lapping oil from <!-- -->Russia<!-- --> at deeply discounted rates. <br \/>In March, China outpaced India in importing Russian crude by sea, receiving 1.82 million barrels daily compared to India&#8217;s 1.36 million, as per Vortexa, an energy cargo tracker cited in an ET report.<br \/>China receives Russian oil via pipelines. India&#8217;s monthly imports of seaborne Russian crude surpassed China&#8217;s for approximately eighteen months. However, in February, China&#8217;s imports from Russia marginally exceeded India&#8217;s at 1.3 mb\/d compared to India&#8217;s 1.27 mb\/d. In March, the gap between the two widened significantly.<br \/>Also Read | <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/strong-show-by-indian-economy-imf-ups-india-gdp-forecast-good-news-for-pakistan-too\/articleshow\/108994049.cms\" styleobj=\"[object Object]\" class=\"\" frmappuse=\"1\">Strong show by Indian economy! IMF ups India GDP forecast; good news for Pakistan too<\/a><br \/>Indian refiners rejecting Russian Sokol cargoes, fearing that they were loaded on sanctioned vessels, led to China&#8217;s surge in purchases at heavy discounts. The stricter enforcement of sanctions on Russian ships resulted in rejections by Indian refiners.<br \/>A senior government official highlighted the challenge of paying for Russian oil carried by sanctioned ships, citing potential difficulties for Indian banks involved in such transactions. \u201cAny Indian bank involved in paying to a sanctioned entity can attract secondary sanctions,\u201d the official said.<br \/>Also Read | <a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/is-chinese-garlic-being-smuggled-into-india-why-customs-has-sounded-high-alert\/articleshow\/108971701.cms\" styleobj=\"[object Object]\" class=\"\" frmappuse=\"1\">Is Chinese garlic being smuggled into India? Why customs has sounded high alert<\/a><br \/>Despite this, India&#8217;s imports of Russian oil saw a 7% month-on-month increase in March. This rise indicates a growing preference for discounted barrels, especially with the benchmark Brent reaching $89 per barrel. An industry executive noted that if prices continue to climb, India&#8217;s demand for Russian oil is likely to increase even more.<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n        var JarvisUrl=\"https:\/\/vsp1jarvispvt.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China pips India in buying Russian oil! India is no longer the top buyer of seaborne Russian oil. The country has been forced to reject some cargoes of sea-borne Russian oil because of sanctions. China is now lapping oil from Russia at deeply discounted rates. In March, China outpaced India in importing Russian crude by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":17886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-109024941,imgsize-233724.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[289,23336,168,5680,14938,23337,273,23334,3493,23335,2364,202,1461,23333,23332,2620,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/17885"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=17885"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/17885\/revisions"}],"predecessor-version":[{"id":17887,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/17885\/revisions\/17887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/17886"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=17885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=17885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=17885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}