This month, India is expected to import almost a million barrels of Russian crude per day, which is almost 35 times the volume for 2021. And the Indian consumers are not benefitting from these imports. Most of this crude is refined to diesel and gasoline and then exported to European Union and other South Asian nations. And the Indian government is in talks with Russia to further increase the imports later this year, if Russia is willing to increase the discount. As of now, the discount is $30 to $35 per barrel. The Indian government is requesting for discounts in the range of $45-$50 per barrel.
This is business as usual and I think that this will make their relationship and friendship better. While the world is in economic turndown due to the price of oil. There goes India that won't be affected by it and instead, they're making business in this situation. This is the same as the start of the pandemic, while the world is experiencing fear of the virus, there go the huge pharma companies that have been making billions out of the situation.