India's largest oil refiners, including Reliance Industries which operates the world's largest refining complex, have collectively decided to stop accepting Russian crude oil delivered on tankers operated by Sovcomflot, Russia's largest commercial shipping company, due to the threat of falling under secondary U.S. sanctions. This move is a significant shift in India's stance towards Russian oil imports, which have been a crucial part of the country's energy supply and have seen India buying the most Russian oil since July. The sanctions against Sovcomflot, aimed at penalizing Russia for its actions, have led to a narrowing of the Russian oil discount, making it more expensive and affecting the trade that has flourished since the invasion of Ukraine. This decision by Indian refiners to scrutinize shipowners and avoid U.S. sanctions fallout marks a critical point in the global oil trade, underscoring the impact of international sanctions on Russia's oil export industry, which is vital for financing the Kremlin's activities.
“All of India’s refiners are now refusing to take Russian crude carried on Sovcomflot tankers due to US sanctions, complicating the trade that has flourished since the invasion of Ukraine.” This is going to speed creation of alternate financial channels. https://t.co/qIa4ky33UD
India stops accepting Russian oil delivered by US-sanctioned tankers, reports say https://t.co/sUYZu7Ltw5
⚡️ Bloomberg: Russian oil trade feels pressure of Western sanctions in India. https://t.co/HfjcySHMbJ
Sanctions are starting to impede Russia's oil exports - Bloomberg The Russian oil-export industry, crucial for financing the Kremlin's activities in Ukraine, faces obstacles as Indian oil refiners refuse tankers owned by state-run Sovcomflot PJSC due to sanctions. Since… https://t.co/67lYhbgVVs
All of India’s refiners are now refusing to take Russian oil carried on Sovcomflot tankers due to US sanctions - Bloomberg
Indian oil refineries have stopped accepting Russian crude oil delivered by tankers operated by Sovcomflot—Russia’s largest commercial shipping company that has been sanctioned by the U.S. https://t.co/k7WEDaFmZl
India Stops Accepting Russian Oil Delivered By US-Sanctioned Tankers, Reports Say https://t.co/5uhVnBKdrO https://t.co/momtQk0Ly9
India stops taking Russian oil delivered on Sovcomflot tankers, Bloomberg News reports https://t.co/zDD1OgzJGB https://t.co/IoGG0owsa0
So US sanctions have narrowed the Russian oil discount (made it more expensive) and India is buying the most since July? India Stops Taking Russian Oil Delivered on Sovcomflot Tankers All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot…
JUST IN | India stops taking Russian oil delivered on Sovcomflot tankers: Agencies https://t.co/TFs9cAcNhv
#India Stops Taking Russian Oil Delivered on Sovcomflot Tankers Refiners scrutinize shipowners to avoid US sanctions fallout Sovcomflot said this week penalties put pressure on operations #oott #Russia https://t.co/h9LHsepuKg
All of India’s refiners are now refusing to take Russian oil carried on Sovcomflot tankers due to US sanctions https://t.co/2b6Rzvi6I5
⚡️#India's largest energy company has refused to supply Russian oil by sea, as reported by Reuters. The reason is the threat of falling under secondary U.S. sanctions.
India's largest energy company has refused to supply Russian oil by sea According to Reuters, India's Reliance has refused to deliver Urals crude by Sovcomflot tankers because of the threat of falling under secondary U.S. sanctions. The operator of the world's largest oil… https://t.co/GuXXyZ3p5C
India's Reliance won't take SCF oil shipments since US sanctions imposed - Reuters India's Reliance Industries, operator of the world's largest refining complex, has decided not to purchase Russian oil loaded on tankers operated by Sovcomflot (SCF) following recent U.S.… https://t.co/5ZlluW0Ckz
'No More Russian Oil' - India's Reliance In US Sanctions Shutdown In Reuters' latest shot at Russia - India cooperation, two sources told them that the country's largest oil refiner is refusing to take Russian oil shipped by Sovcomflot for fear of American retribution. However… https://t.co/xL8zXPIFJx
'No More Russian Oil' - India's Reliance In US Sanctions Shutdown In Reuters latest shot at Russia - India cooperation, two sources told them that the country's largest oil refiner is refusing to take Russian oil shipped by Sovcomflot for fear of American retribution. However… https://t.co/UZsXP5FtHe
#India's Reliance refusing Sovcomflot oil shipments after sanctions, sources say #oott #Russia https://t.co/dRfkaWZr0n