(MENAFN) According to Bloomberg, despite being targeted by Western sanctions, three tankers loaded with Russian Sokol-grade oil have reached Indian ports, as per vessel-tracking data. The supertanker Nireta is reported to be anchored near Visakhapatnam on India’s east coast.
Additionally, two other vessels, Vostochny Prospect and Erecter, have purportedly delivered crude to Jamnagar in the west, with Sikka Port listed as their destination. Another tanker, Clyde Noble, carrying Sokol crude, is en route to Sikka.
Bloomberg's findings suggest that in the month leading up to mid-January, ten shipments of Russian crude bound for India failed to unload at the country’s ports, with at least five vessels returning via the Malacca Strait. This led to a significant backlog, with as much as 18 million barrels of oil accumulated.
Earlier this year, Reuters reported that Indian state refiners ceased purchasing Russian crude last year after being advised against making payments in Chinese yuan due to strained relations with Beijing. Refiners in India have increasingly relied on Russian crude following the cessation of purchases by Western importers as part of sanctions against Moscow. However, since late last year, Indian buyers have encountered significant challenges due to stricter enforcement of sanctions.
In February, Washington imposed new sanctions on exports of Russian crude, including blacklisting Sovcomflot and more than a dozen tankers associated with the Russian state-owned firm. Notably, one of the tankers currently off the Indian coast, Vostochny Prospect, is owned and managed by the Russian state-owned corporation.
Bloomberg highlighted that it remains uncertain whether the tankers will offload their cargo in India or if issues related to delivery and payments resulting from the sanctions have been resolved.
MENAFN03042024000045015687ID1108053071
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.