Simple
Two reasons
First is Russia supplies Oil to
China vide Pipeline. This means no third parties. No insurance costs or carrier
costs can play a role in the trade
Second is the Yuan. The Russians
use the Yuan as a major source of payment for their imports, accepted by all
their major exporters from Turkey to Malaysia to even Europe
Thus a 30% discount appears
economical
With India, first the supply is
vide Tankers and Insurance and Shipping costs have risen by 27% in the last few
months
Thus the discount is offset by
the increased Shipping and Insurance costs
Second, the Indian Rupee has no
use for most of Russia’s export partners. Nobody wants the Rupee
Thus the discounts have stopped
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