This development exacerbates Russia’s oil export problems, as its oil companies may struggle to find vessels to sell the excess oil.
Indian company Reliance Industries will not buy Russian oil carried on tankers by shipping company Sovcomflot after US sanctions against the carrier. This was reported by Reuters citing a source.
According to the newspaper, this development complicates oil export problems for Russia, as its oil companies may struggle to find ships to sell the excess oil after recent losses. -Ukraine drone attacks on state-owned oil refineries. Russian companies are already struggling to collect payments for oil exports due to banking restrictions.
In February, the United States imposed sanctions on Sovcomflot and 14 of its tankers over Russia’s attack on Ukraine.
According to the interlocutors of the agency, Reliance requested not to make new deliveries of Sovcomflot vessels. The companies did not comment on the situation.
Other Indian refineries may stop using carrier tankers. This is fraught with a reduction in Russian oil imports to India against the backdrop of Washington’s increasing control over agreements with the Russian Federation.
It was earlier reported that India (the biggest buyer of Russian oil) has not been buying premium raw materials of ESPO grade, shipped from Kozmino port, for two months.
Let’s recall that, according to the International Energy Agency (IEA), Russia’s oil export earnings fell in February amid increased surveillance in compliance with Western sanctions, which dampened the appetite of some consumers .
Source: korrespondent
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