India will abandon Russian oil tankers subject to US sanctions.
Bloomberg writes about this.
The innovations will apply to ships chartered in Indian ports after January 10, 2025. Also, Indian banks will require certificates of cargo origin during verification. Indian refiners are currently negotiating with Middle Eastern suppliers to reach new agreements. They could lose the discounts they have enjoyed on Russian oil if supplies become scarce.
However, the Indian official, who spoke on condition of anonymity, is confident that Russia will find ways to get its barrels to India.
India is the largest consumer of oil from Russia. At the same time, in 2024, Russian oil accounted for more than a third of India’s energy imports.
Recall that three tankers with Russian oil, which were carrying more than two million barrels, stopped off the east coast of China after the introduction of US sanctions on January 10, Bloomberg reports.
The ships left the Russian port in early January. They belong to Russia’s shadow fleet, which transports oil at prices above the $60 per barrel ceiling, according to the U.S. Treasury Department. In addition, one of the tankers, Olia, is also said to have been transporting Iranian oil.
Source: Racurs
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