What The Largest-Ever Oil Deal Between India and Russia Really Means

The new Trump Administration may target Russia's recent oil deals as part of its sanctions discussions. Russia's Rosneft has signed a $13 billion annual crude oil supply agreement with Indian downstream giant Reliance Industries, committing to supply 500,000 barrels per day (bpd) for 10 years. This deal constitutes 0.5% of the global oil supply and is the largest-ever commercial agreement between Russia and India. Facing Western sanctions on its oil sector, Russia is actively seeking alternative clients. India has become its largest oil importer…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com