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India Has Not Faced Any Problems With Oil Payments, Foreign Minister Says

RUSSIA
  • India is buying about 1.5 million barrels a day of crude oil from Russia and has not faced any problem with payments, the nation’s oil minister said. He told reporters on Wednesday that oil supplies from Russia depend on the price and are not hostage to payments. This follows reports yesterday that a number of vessels hauling crude from Russia that had been idling off India are headed away from the country eastwards amid concerns over payments to Moscow.
  • Russia and Iran will be able to trade in rubles and rials after signing a currency agreement in 1Q 2024, Kommersant report.
  • Poland’s Foreign Minister Sikorski has called on Western allies to tighten sanctions on Russia and to supply Kyiv with long-range missiles in response to the latest series of air strikes, Bloomberg report. Sikorski was appointed Poland’s foreign minister last month after the pro-EU alliance of parties led by Donald Tusk won the parliamentary election. The new PM has pledged to rally support for Ukraine among allies.
  • There are no local data releases on the docket today, or indeed for the remainder of the week.

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