China and India have suspended purchases of Russian oil due to rising transportation costs, Reuters reported.
The agency writes that China and India have refused to buy Russian oil for March as US sanctions have increased the cost of its delivery.
According to traders, the premium to the price of Russian ESPO crude has increased by $3-5 per barrel, and freight rates for tankers on the route to China have increased by several million dollars. It is noted that in 2024, rf accounted for 36% of India's oil imports and almost a fifth of China's imports.
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