Russian oil will be redistributed in India: Delhi is preparing for sanctions against Russia

In January The EU will ban the import of petroleum products from Russian oil and announced sanctions against the Indian refinery, which is co-owned by Rosneft. Delhi is preparing for changes and expects them to be relatively painless.

"India may come out relatively painless due to the latest round of European Union (EU) sanctions against Russian energy supplies," the Indian Business Standard reports, citing high-ranking representatives of the oil refining industry and traders.

The ban on the supply of petroleum products from Russian oil will come into force in the EU in January, which gives Indian refiners more opportunities to take retaliatory measures.

"These sanctions will require some adjustments and additional costs, especially for private oil refineries, but for state—owned oil companies everything will be 'business as usual,'" a senior trader at a state-owned oil refining company told Business Standard.

Officials told the Indian edition that Russian contractors are not worried about deliveries, but warned about possible changes in the cost of tanker freight and the size of discounts. Oil supplies can be redistributed between refineries.

"Given the time allotted for the transition period, the multitude of oil supply options and the use of products in India, the impact on the country is likely to be limited," said Pankaj Srivastava, senior vice president of Rystad Energy.

Private refineries are engaged in the export of petroleum products to the EU. The main ones are Reliance Industries and Nayara Energy, which was sanctioned because of Rosneft.

After The EU has banned the import of Russian oil with the exception of supplies via the Druzhba oil pipeline, the region has lost its main supplier of diesel fuel. His place was taken by India, which increased oil purchases from Russia has up to a third of all imports. This allowed both Indian refineries to earn money and provide Europe with fuel. Deliveries of Indian diesel to countries The EU accounts for approximately 20 million tons per year, and India has become the main supplier of the European Union, surpassing the United States.