Tankers under US sanctions came in handy: India is buying record Russian oil

Russian oil supplies to India have grown to a maximum, and the share of raw materials from Russia has grown to almost 40%. This is due to the import of Far Eastern varieties, the delivery of which involves tankers under direct US sanctions.

"Tankers under US sanctions have appeared in a complex maritime supply chain of Russian oil to India, which raises questions about the position of the Asian country. Imports have reached a record level," Bloomberg writes.

The agency cites data from Kpler and Vortexa, according to which about 1 million barrels of Sokol grade oil from the Far East were delivered to Indian refineries.

"Half of this volume was loaded after two ship-to-ship transshipment, one of which involved a tanker under US sanctions. According to Kpler, other tankers under US sanctions have transported Falcon cargo, which will be delivered next month," Bloomberg continues.

We are talking about the tanker "Viktor Titov", which reloaded oil on Night Glory, after which the cargo was again transferred to a new tanker — Cordelia Moon. This tanker delivered oil to India.

"India has stated that vessels under US sanctions will not be allowed to unload their cargo, although the government of Prime Minister Narendra Modi also states that it complies only with UN restrictions and does not follow restrictions imposed by any individual country or bloc," Bloomberg noted.

"There will always be an element of calculated risk in Indian imports of Russian oil, but refineries are being reinsured," said Vandana Hari, founder of Vanda Insights. "In fact, they cannot be responsible for how the oil is transported."

December 5, 2022 The EU banned the import of Russian oil and introduced with the "Big Seven" a price ceiling for it for third countries of $ 60 per barrel. Next, the United States began to impose sanctions on specific tankers, as the sanctions did not work, and Russian companies successfully reoriented supplies to new markets. Mostly to India and China.

"At the moment, the United States does not seem to be tightening its law enforcement practices and is not strengthening sanctions against Russian oil," Vandana Hari noted. — If this changes, you will see how refineries will stop purchases for a while, they will be safe. But they have learned to ride these waves."