The sanctions affect about 160 tankers and major market players, including insurance companies, according to the US Office of Foreign Assets Control (OFAC).
India has announced its intention to ban the unloading of sanctioned tankers carrying Russian oil. Bloomberg reported this on Monday, January 13.
The sanctions affect about 160 tankers and major market players, including insurance companies, according to the US Office of Foreign Assets Control (OFAC).
A senior Indian official said that sanctioned vehicles will not be allowed to take off.
This does not apply to ships chartered before 10 January, provided they unload before 12 March.
The official also added that the consequences of the sanctions will be felt within two months:
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Oil supplies are not a problem. OPEC has 3 million barrels per day of spare capacity, while non-OPEC suppliers such as the US, Canada, Brazil, Guyana can easily add barrels.
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Indian oil refiners are negotiating urgent deals with suppliers from the Middle East. Depending on the market situation, they may ask for additional barrels.
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Indian refiners could lose the discounts they have enjoyed on Russian oil if supplies fall short.
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Russia will find ways to get its barrels to India.
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Banks in India will require certificates of origin to ensure that the oil does not come from sanctioned suppliers.
It was previously reported that three tankers with more than two million barrels of Russian oil were “stuck” in the waters of eastern China after the United States imposed sanctions against them on January 10.
Let’s remember that the day before the United States imposed large-scale sanctions against Russian oil and Russia’s “shadow fleet”.
Source: korrespondent
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