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India Shuns Urals, China Gets Cheaper Russian Oil

🇮🇳Indian refiners' reluctance to take Russian Urals crude shipments is pushing these discounted cargoes toward buyers like China & others, making them even cheaper in those markets—while the Indian refiners turn to replacement crudes at international prices. An Urals cargo originally bound for India was diverted to Syria before the tanker reached the Suez Canal. It was sold at a steep discount.