INSUBCONTINENT EXCLUSIVE:
Indian Oil will not accept Russian crude on free on board basis owing to insurance riskLONDON: Indian Oil Corporation (IOC) will no longer
accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board (FOB) basis due to insurance risk, according to a tender
notice and a source familiar with the matter.The letter was sent on Monday to traders who submit cargo offers into IOC's regular crude oil
or destroyed during shipping
The purchaser pays the shipping cost from the factory and is responsible if the goods are damaged while in transit
