Russian oil imports to India fell to annual minimum – Kommersant
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Imports of Russian oil to India are declining for the second month in a row, reports Reuters. According to the LSEG service, in January this figure amounted to 1.3 million barrels per day, which is 4.2% less than in December. This is the annual minimum.
“Decreasing discounts on Russian oil, recent US sanctions on shipowners, as well as the crisis in the Red Sea have made Russian oil less attractive to Indian refineries in recent months,” analyst firm Vortexa told the agency.
They added that the reduction in fuel supplies from Russia may continue in the coming months. To compensate for the reduction in supplies, India increased purchases of Iraqi oil, writes Reuters.
The agency notes that in 2023, India became the largest buyer of oil from Russia transported by sea, which Moscow sold at a discount. In December, the United States announced sanctions on ships that carry Russian oil at prices above the established ceiling of $60 per barrel. Because of this, as Reuters writes, several tankers that transported Sokol oil transferred the transportation of oil to India.
Earlier, Kommersant learned that some tankers with Sokol oil began moving towards the shores of India. Deliveries will be made to refineries in Vadinar and Visakhapatnam, owned by the shareholders of the Sakhalin-1 project – Rosneft and ONGC.
Read more about oil transportation to India in the Kommersant publication. “Russia is looking for a place for Sokol”.
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