RUSSIAN OIL EXPORTS CHANGE DIRECTION

Abstract

. At the end of February – March 2022 another redistribution of the global energy market began, caused by the expansion and deepening of sanctions against Russia. In this situation India has significantly increased its purchases of Russian oil. India took this step on the basis of its economic considerations, despite the displeasure of the United States. Russian oil of the Urals brand is sold at a significant discount, which makes imports profitable for the Indian side, even taking into account transportation costs. There is a large reserve for further increases in supplies, but the Indian authorities have not yet made any statements in this regard.