India’s largest oil refining conglomerate will not buy Russian oil from tankers due to US sanctions.
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Reuters writes that Reliance, India’s largest market capitalization and exporter and a major buyer of Russia’s Urals oil, has asked that new deliveries not be carried out by Sovcomflot (SCF) tankers.
In February, the United States imposed sanctions on Sovcomflot and 14 oil tankers involved in transporting Russian oil.
“We prefer that refiners not take oil from sanctioned vessels because of our political and commercial interests and US sanctions,” said one Indian government source.
SCF is a major supplier of tonnage for Russian oil. Refusal to accept its tankers could negatively affect the sale of raw materials in India, which became the main buyer of seaborne oil shipments from Russia after the departure of Western companies at the end of 2022, Reuters journalists note.
Source: Racurs
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