February 21, 2023, 19:53 – BLiTZ – News
Hindustan Petroleum, an Indian state-owned company, is experiencing problems with paying for oil purchased from Russia, caused by sanctions restrictions imposed by the West, which came into force on December 5. Such information is shared by Reuters, referring to a statement by a company representative.
It is noted that many financial institutions refuse to make payments for fear of falling under secondary restrictions provided for by the price ceiling.
At the moment, another source told the media, Hindustan Petroleum is looking for reliable alternative banking channels, rather than relying on Western or local but US-influenced banks.
New Delhi, under the embargo imposed by European countries, has become one of the main markets for oil for the Russian Federation. At the same time, local refineries are purchasing fuel at below the $60 per barrel ceiling set by Washington and its allies. This situation allows them to access Western insurance and transportation.
Earlier, Deputy Treasury Secretary Wally Adeyemo said that the United States plans to impose sanctions against companies from China that continue to cooperate with Russia. Read more on the topic in the BLiTZ article.
