“China and India will be forced to change their oil suppliers due to sanctions against the aggressor country – Reuters This is due to new US sanctions against Russian companies and ships.”, — write on: unn.ua
Details
This is due to the latest sanctions imposed by the USA against Russian oil-producing companies and ships, which significantly reduced the logistical possibilities available to Moscow. The changes have already started to affect prices and transportation costs, putting additional pressure on the market.
The sanctions affected large Russian companies, such as “Gazprom Neft” and “Surgutneftegaz”, as well as almost two hundred vessels that ensured the delivery of Russian oil. The move was part of a broader strategy to limit the terrorist country’s revenues, which are used to finance the war against Ukraine.
As a result of the restrictions, trade in Russian oil, which was previously reoriented from Europe to Asia, was under threat. In particular, Chinese and Indian oil refiners, which were the main consumers of this raw material, may face a supply shortage.
According to analysts, about 143 tankers, which transported a significant part of Russian oil exports last year, were sanctioned. This means that a significant amount of shipping to China and India, which are key consumers, is now difficult. A shortage of ships that can carry out the transport will inevitably affect market freight rates, creating additional costs for importers.
Amid these changes, imports of Russian oil to India and China have increased in previous months, but new sanctions could reduce refining volumes in those markets.
We will remind
It was previously reported that the Biden administration intends to impose sanctions against tankers transporting Russian oil at a price exceeding $60 per barrel. The restrictions will also affect persons involved in oil trading at prices above the established limit.
The US plans to increase sanctions against tankers carrying Russian oil – Reuters06.01.25, 10:30 • 31218 views