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Paymentdispute

All articles tagged with #paymentdispute

business-and-finance2 years ago•1 min saved

"India's Russian Oil Imports Wane Due to Payment Struggles and Tightening Sanctions"

Russian oil tankers destined for India are turning back due to payment disagreements, as India pays for Russian oil in UAE dirhams but a Rosneft unit can't accept this due to banking issues. The situation is complicated by U.S. sanctions on Russian oil trade, particularly on the tanker NS Century. India, a major buyer of Russian oil since the Ukraine invasion, faces stalled shipments and pressure to align with Western sanctions.

via Yahoo Finance|

##business-and-finance #energymarket

business-and-economy2 years ago•1 min saved

"India's Russian Oil Import Fluctuations: Payment Disputes and Discounts in Focus"

Russian oil tankers are diverting from India due to a payment dispute, as a major Russian supplier struggles to accept payments in UAE dirhams. The tankers had been waiting near India and Sri Lanka for about a month, but with the inability of Rosneft's unit to open a UAE bank account, payments for oil shipments have been stalled. This issue is compounded by US sanctions on Russian oil trade, which put pressure on India to comply with price caps. Despite being one of Russia's largest oil customers post-Ukraine invasion, India's oil imports from Russia dropped significantly in December, with no Sokol crude received.

via Markets Insider|

##business-and-economy #india