The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling.
The price of Urals dipped below $60 per barrel earlier this month as international benchmarks crashed…Russia-India Oil Shipping Rates Drop as Urals Dips Below Price Cap
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