Many Indian oil refineries (refineries) plan to stop using Russian company Sovcomflot’s tankers when transporting fuel from Russia due to fear of exposure to secondary US sanctions. The newspaper reports this “News” By consulting expert opinions;
In February, the US imposed restrictions on Sovcomflot and 14 oil tankers. According to agency sources, the Indian Cabinet will now have to take a decision on allowing such ships to enter the country’s ports.
“Due to US sanctions as well as our political and commercial interests, we prefer refineries not to transport oil on sanctioned ships,” said one of the interlocutors. Reuters previously.
Experts warn that the ban will worsen Russia’s problems with oil exports and its search for alternative shipping vessels. The situation is further complicated by problems in collecting payments due to banking restrictions.
India is a major importer of Russian fuel. In 2023, oil purchases from the Russian Federation reached 92 million tons, compensating 80% of the losses in supplies to the EU. However, the rejection of Sovcomflot tankers will force India to extend logistics chains for oil supplies, which will negatively affect the prices of oil products for Europe, to which the country exports significant amounts of oil.
Before this it was known that the main buyer was in India. denied From Russian oil.
previously china augmented oil production.