Posted 20 марта 09:41

Published 20 марта 09:41

Modified 20 марта 10:02

Updated 20 марта 10:02

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Reuters: India intends to extend export restrictions imposed due to Russia

20 марта 2023, 09:41
Restrictions on the export of diesel fuel and gasoline are calculated until the end of the fiscal year on March 31.

According to Reuters, the Indian government decided to extend the restrictive measures introduced last year after private Indian exporters began to earn a lot by selling discounted Russian fuel abroad to the detriment of the domestic market.

After that, the government announced a tax on excess profits from the export of petroleum products and demanded that companies sell the equivalent of 50% of gasoline exports and 30% of diesel fuel exports within the country.

"We want private companies to sell private fuel and gasoline on the Indian market. Why only state—owned companies suffer when all Indian refiners buy Russian oil at a discount", - one of the sources of the publication pointed out.

Earlier, India bypassed China and became the largest buyer of Russian oil back in November 2022. India is not going to violate Western sanctions on Russian oil exports, including the price ceiling of $60 per barrel.