Amid renewed West Asia conflict, discounts on Russian oil for Indian refiners vanish
Discounts on Russian oil for Indian refiners have disappeared due to renewed conflict in West Asia and reduced energy flows through the Strait of Hormuz. Bharat Petroleum Corporation's Director (Finance) Vetsa Ramakrishna Gupta noted that the collapse of the US-Iran peace memorandum has increased demand for oil from other regions, eroding discounts on Russian crude. Despite the lack of discounts, Gupta confirmed that there is sufficient availability of oil from Moscow and other sources to meet India's needs.