“We prefer that refineries not accept crude oil from sanctioned ships, due to our political and commercial interests and US sanctions.” — An Indian government source told Reuters.
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Indians fear US sanctions
In October 2023, the United States imposed a new package of sanctions on countries that buy and process Russian oil. But Washington dealt a fatal blow to oil exports to India in early March, when it included the Russian tanker “Sovcomflot” and 14 of its tankers on the sanctions list. The company supports oil and gas extraction projects in the Arctic part of Russia, including: from the Sakhalin-1, Sakhalin-2, Yamal LNG and Arctic LNG-2 fields and wells.
According to Bloomberg, citing its own sources, the refineries are currently verifying the owners of each tanker to ensure that they are not linked to the company or other entities subject to sanctions.
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How much oil does India import from Russia?
India, along with China, is currently Russia's main economic partner. Before the war, India did not import Russian oil, and at its peak — In July 2023, the daily volume of confirmed raw materials reached 1.99 million barrels.
As Reuters wrote, since the beginning of the invasion, India has bought Russian oil worth 69 billion euros and coal worth more than 9 billion euros.
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