Shipments of Russian oil to India cost $27-$30 million per trip
Business
Getting Russian oil to India is suddenly way more expensive: shipping costs have shot up to $27 to $30 million per trip this October, compared to about $19 million last month.
The main reasons? Security risks near the Black Sea and rising global tanker rates.
This price jump makes it harder for Russia to cash in on high oil prices, since most of its crude now takes longer, costlier routes to reach buyers like India and China.
Baltic costs rise, Russia rethinks exports
It's not just one route: sending oil from Russia's Baltic ports to western India now costs $21 to $23 million per trip, up from $13 to $16 million in September.
All these rising shipping fees are forcing Russia to rethink how it gets its oil out into the world.