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Currently Russian crude trades at a discount to global benchmarks, which has helped Moscow attract buyers in Asian countries including India and China.
The world cannot live without Russian oil and parallels between sanctions on Russia and Iran cannot be drawn due to Russia's ability to produce around 11% of the global oil supply.
Price cap on Russian oil may lower discounts, widen buyer pool: Vitol's Muller
The G7 countries agreement to finalize and impose a price cap on Russia s crude exports may diminish its current discounts against global benchmarks and widen the pool of buyers of its oil, the head o