Nayara is a major player in India: its refinery of about 400,000 barrels per day accounts for 8% of the country’s processing capacity, and its network of filling stations covers roughly 7% of the retail fuel market.
According to analysts at Kpler and Energy Aspects, Chinese companies have already bought between 10 and 15 cargoes of Urals for October and November delivery — significantly more than their usual intake.
Mandatory quotas for the sale of foreign currency proceeds have been set to zero.
Russia’s economy — reshaped by Vladimir Putin over the past two and a half years to serve the needs of war — is now facing perhaps its most serious crisis since the collapse of the USSR.
According to a Bloomberg survey of economists, Russia’s economy likely returned to growth in the second quarter of 2025, avoiding a technical recession despite the pressure of record-high interest rates.
Russia’s second-largest bank — VTB (VTB Bank PJSC) — is experiencing a steep drop in lending income, raising concerns among top managers and experts.
The government is being forced to implement a set of measures to pull the economy out of what the Central Bank calls a “balanced growth trajectory,” but which in reality resembles a freefall.
This marks a shift in global oil trade as President Donald Trump ramps up pressure on India over its purchases of Russian oil.
After two years of record profits showcasing the resilience of Russia’s wartime economy, the country’s banking sector is showing signs of overheating.
India’s largest state-owned oil refiner, Indian Oil Corp (IOC), has sharply increased its purchases of crude oil from alternative suppliers, acquiring at least 5 million barrels from the United States and another 2 million from Abu Dhabi. According to Bloomberg, citing traders familiar with the transactions, the deliveries are scheduled for the near future—making them unusually urgent by the company’s usual standards. Washington Increases Pressure on New Delhi IOC’s intensified activity follows mounting pressure from both the United States and the European Union, which have recently criticized India for increasing its imports of Russian oil. President Donald Trump has once
The Central Bank has lowered its key interest rate by two percentage points, bringing it down to 18%.
According to a Bloomberg survey, all economists expect a rate reduction at Friday’s meeting — and some predict the most aggressive move yet this year.
Clients are now required to make an advance payment or present a documentary letter of credit before a shipment of naphtha scheduled for next month.
