A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue.
India and China have been the two dominant buyers of Russian crude since the invasion of Ukraine more than a year ago prompted others to shun the OPEC+ producer. As Urals climbs above the limit set by the Group of Seven, however, importers will face greater scrutiny on their purchases.
