“India will refuse oil tankers that have come under new US sanctions due to transportation for the Russian Federation – BloombergIndia plans to ban the unloading of oil tankers that have been sanctioned by the US due to the transportation of Russian cargo. The country will look for alternative oil suppliers from the Middle East and other regions.”, — write on: unn.ua
Details
The United States on Friday announced the most aggressive sanctions on energy trade with Russia, just days before Donald Trump succeeds Joe Biden as president of the United States. Since then, oil prices have risen to more than $80 a barrel, and key traders, insurers and about 160 tankers have been blacklisted by the US Office of Foreign Assets Control (OFAC).
A senior Indian official told reporters that sanctioned vessels would not be allowed to unload. This does not apply to vessels chartered before January 10th, provided they are unloaded by March 12th.
The official, who asked not to be named because of the sensitivity of the matter, also said:
- “The impact of the sanctions will be felt when the curtailment period ends in two months.”
- “Oil supply is not a problem. OPEC has 3 million barrels per day of spare capacity, while non-OPEC suppliers such as the US, Canada, Brazil, Guyana can easily add barrels.”
- “Price is a problem, but the rally above $80 should not last long.”
- “Indian refiners are heading into urgent supply talks with Middle East suppliers. Depending on the market, they may seek additional barrels.”
- “India is studying what is happening to the stake of state-owned companies in the sanctioned Vostok oil project.”
- “Indian refiners may lose the discounts they have been receiving on Russian oil if supplies become scarce.”
- “Russia has not yet announced its position on sanctions.”
- “russia will find ways to get its barrels to india”.
- “Indian banks will require certificates of origin to ensure that crude oil does not come from sanctioned suppliers.”
Three tankers with Russian oil stuck off the coast of China after US sanctions – Bloomberg13.01.25, 11:35 • 16506 views