2023: Refusal to make payments for oil from Russia above the $60 per barrel ceiling set by the US
Main article: Oil exports from Russia
Indian state bank in April 2023 refused to service payments for oil from Russia at a price above the ceiling of $60 per barrel, writes. Reuters Prior to that, Indian refineries paid through the bank for Russian oil in dirhams, UAE which are strictly pegged to the dollar.
This method allowed them to pay a higher price and hide the fact of violation of sanctions. However, Bank of Baroda management has now decided the scheme looks too risky.
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |