Russian oil exports are facing significant challenges due to sanctions and payment issues. Alexis Zakharov notes that India's oil imports from Russia may be reduced if prices are unfavorable for Indian refineries. According to LSEG and KPLER data, 14 tankers carrying Russian Pacific Sokol oil are stranded near the South Korean coast, unable to find buyers. The total volume of Sokol oil now stuck at sea is over 10 million barrels, more than a month's production. In the Baltic Sea, four tankers holding 3 million barrels of Russia's flagship crude have been idle for at least a week amid increasing US and UK sanctions. The Russian Federation's shadow fleet has been grounded for several weeks. India's refusal to pay for the oil in dollars, fearing U.S. sanctions, and instead offering to pay in rupees, has contributed to the issue. Russia's Deputy Prime Minister Novak has stated that oil and fuel exports have been cut by 500,000 barrels per day (bpd), but also claimed that exports to India are proceeding as planned, despite the stranded tankers.
#Russia's deputy PM Novak said that Russian exports of oil to #India are going according to plan, commenting after Reuters reported that about dozen tankers, loaded with 10 million barrels of Russian Sokol grade crude oil, have been stranded off the coast of #SouthKorea for weeks… https://t.co/6f7EoZDV49
#Russia has reached oil and fuel exports cuts of 500,000 bpd - deputy PM Novak #oott https://t.co/jbYlQDHqsf.
Reuters: 14 tankers with oil from the Russian Federation have been waiting for shipment from India for several weeks. All because of problems with payment - the Indian side refuses to pay for oil in dollars for fear of falling under US sanctions. They offer to pay in rupees,… https://t.co/JV1OKkRrU4
The power of sanctions: the shadow fleet of the Russian Federation “ran aground”👍 14 tankers carrying 10 million barrels of Russian oil have been grounded off the coast of South Korea for several weeks and have not yet been sold due to US sanctions and payment problems. https://t.co/Ov60d3NsOX
Oil Tankers Holding #Russia’s Flagship Oil Sit and Do Nothing in the Baltic Four tankers holding 3 million barrels wait at least a week US and UK have been ratcheting up sanctions on Russian oil #oott https://t.co/X7unXy50Gp
Russia’s flagship crude oil is idling on tankers in the Baltic Sea at a time when the nation’s vast petroleum export program is coming under increased sanctions pressure https://t.co/XlusM7vNDD
#Russia struggles to sell Pacific oil, 14 tankers stuck - sources, data #oott https://t.co/bBvAXADTBd
🔴 SOME 14 TANKERS OF RUSSIAN PACIFIC SOKOL OIL STUCK NEAR SOUTH KOREA COAST, UNABLE TO FIND BUYERS. TOTAL VOLUMES OF SOKOL NOW STRANDED AT SEA TOP 10 MLN BARRELS, EQUAL TO MORE THAN A MONTH OF PRODUCTION - SOURCES.
🛢️ SOME 14 TANKERS OF RUSSIAN PACIFIC SOKOL OIL STUCK NEAR SOUTH KOREA COAST, UNABLE TO FIND BUYERS - SOURCES, LSEG, KPLER DATA #oott
#India’s #oil imports from #Russia are prone to fluctuations and may be sweepingly curtailed if the price is unfavourable for #Indian #refineries, writes @AlexisZakharov https://t.co/PExJPxjIyX