Russia working to circumvent sanctions to ensure India oil imports continue
He was echoed by June Goh, a senior oil market analyst for Sparta Commodities. “The discount is just too attractive for the Indian refiners not to buy the oil,” she said. Goh said this expectation had also been reflected in the response from the global oil market. “Initially, when things blew up, we saw oil prices rising quite significantly,” she said. “However, we have now seen prices falling off. The market just doesn’t believe that this sanctions enforcement will likely take place in a big way.”
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