20.2 C
Los Angeles
Thursday, June 30, 2022

Russia says it gained full control of Severodonetsk in eastern Ukraine

Moscow (The Times Groupe)- The Russian Defense Ministry announced Saturday that a few cities and settlements in the Luhansk region of eastern Ukraine had been taken over by Russian forces.

G7 summit kicks off under shadow of Ukraine war, stagflation risk

Schloss Elmau (The Times Groupe)- The German Chancellor Olaf Scholz will welcome leaders from the Group of Seven rich democracies to the Bavarian Alps on Sunday for a three-day summit overshadowed by the war in Ukraine and its far-reaching consequences.

Russia claims hitting three military training centers in Ukraine

Moscow (The Times Groupe)- The Russian Defense Ministry claimed on Sunday that its armed troops struck three Ukrainian military facilities with sophisticated weapons.

Russia becomes India’s second-largest oil supplier

Russia Ukraine WarRussia becomes India’s second-largest oil supplier

Moscow (The Times Groupe)- Russia has surpassed Saudi Arabia to become India’s second-largest supplier of oil, as refiners snap up the cheap crude oil offered by the Russians after the Ukrainian war, international media reported on Tuesday.

Since the start of the Russia-Ukraine war on Feb. 24, India – the world’s third-largest oil importer – has taken a firm stance on its insistence on buying Russian oil despite the EU ban, because Moscow is selling its oil at a discount of around 30%.

A detailed tracker of Russian oil, gas, and coal shipments, as well as pipeline exports, developed by the Centre for Research on Energy and Clean Air, shows that India has become a significant buyer of Russian crude oil, buying 18% of the country’s exports.

Russia’s crude oil exports to India account for a growing share of Russia’s overall crude exports. Prior to the war, it was roughly 1%. In May, it was 18%.

Jamnagar refinery receives 27% of its oil from Russia, up from less than 5% in April.

Russia has largely replaced other sources of crude imports, but crude intake has also increased since the beginning of April when Russian arrivals increased sharply.

A significant portion of Indian crude is re-exported as refined oil products, including to the U.S. and Europe, which must be addressed.

In May, Iraq remained India’s top supplier, while Saudi Arabia became the third-largest supplier.

Check out our other content

Check out other tags:

Most Popular Articles