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India’s abandonment of Russian oil purchases unlikely — expert

Head of the Mind Money analytical center Igor Isaev did not exclude the possibility of certain limitations of Urals oil purchases or diversification of supplies by India

MOSCOW, August 27. /TASS/. India’s complete rejection of Russian oil is unlikely, considering its lucrative price and the demand for energy resources in the country, head of the Mind Money analytical center Igor Isaev told TASS.

"Considering the attractive price of the Urals and the strategic demand for energy resources, the complete rejection is unlikely. India will more probably balance between geopolitics and economy," Isaev said.

On the one side, the country is interested in keeping beneficial deliveries of Russian oil but it has to take into account US tariffs, the expert noted. He did not exclude the possibility of certain limitations of Urals oil purchases or diversification of supplies by India.

Turkey may get extra benefits in such situation, Isaev said. Pakistan and Bangladesh may be considered as potential new buyers but it is possible only with the increase of discounts, he added.

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