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China pips India to become largest buyer of sea-borne Russian crude at deeply discounted prices

IndiaTimes Thursday, 4 April 2024
India has lost the top buyer status of sea-borne Russian oil to China as sanctions fears grow. China has surpassed India in seaborne crude imports with 1.82M barrels daily vs. 1.36M. Indian refiners are rejecting Russian cargoes due to sanctions on ships, enabling China to enjoy heavily discounted deals.
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