{"id":1447585,"date":"2024-01-04T01:20:00","date_gmt":"2024-01-04T06:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1447585"},"modified":"2024-01-04T01:20:00","modified_gmt":"2024-01-04T06:20:00","slug":"india-denies-sanctions-hold-back-imports-of-russian-crude-oil","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/india-denies-sanctions-hold-back-imports-of-russian-crude-oil\/1447585\/","title":{"rendered":"India Denies Sanctions Hold Back Imports Of Russian Crude Oil"},"content":{"rendered":"

India Denies Sanctions Hold Back Imports Of Russian Crude Oil<\/span><\/p>\n

\n

By Tsvetana Paraskova of OilPrice.com<\/a><\/em><\/p>\n

India\u2019s lower imports of Russian crude oil in recent weeks were the result of unattractive discounts, not because of payment issues amid tougher U.S. sanctions on Russia\u2019s exports, Indian Oil Minister Hardeep Singh Puri said on Wednesday. \u00a0<\/p>\n

\u201cThere is no payment problem,\u201d <\/strong><\/em>Puri told a briefing in New Delhi on Wednesday, as quoted by\u00a0Bloomberg<\/a>.<\/p>\n

\u201cIt is a pure function of price at which our refiners will buy,\u201d <\/strong><\/em>he said, adding that India\u2019s priority is to ensure the cheapest price possible for its consumers.<\/p>\n

<\/a><\/em><\/p>\n

The tougher enforcement of the G7 sanctions and related payment issues\u00a0have been holding up<\/a>\u00a0Indian purchases of some cargoes of Russian crude oil, with tankers previously headed to India now turning back eastwards, tanker-tracking data monitored by\u00a0Bloomberg<\/a>\u00a0showed on Tuesday.<\/p>\n

At the end of last year, the United States\u00a0took a tougher stance<\/a>\u00a0on the sanctions against Russia and sanctioned several vessels for violating the G7 price cap of $60 per barrel, above which cargoes cannot use Western insurance and financing. Some of those tankers were already en route to India loaded with Russia\u2019s Sokol grade and departed from the Far Eastern ports in Russia. \u00a0<\/p>\n

According to the ship-tracking data Bloomberg has compiled, five tankers carrying Sokol were headed to India last month. But now all five \u2013 the NS Commander, Sakhalin Island, Krymsk, Nellis, and Liteyny Prospect \u2013 are headed away from India and on to the Malacca Strait, suggesting that India wouldn\u2019t be taking those purchases after all.<\/p>\n

A sixth tanker, the NS Century, which has been idling off Sri Lanka for months caught up by the sanctions, is still in that area, according to the data.<\/p>\n

As of the end of November, India\u00a0was still considering<\/a>\u00a0whether to allow the now-sanctioned tanker carrying Russian oil to approach and dock at one of its ports\u2014a sign that the U.S. clampdown on Russian crude trade could limit India\u2019s ability to buy and import cheaper oil.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 01\/03\/2024 – 20:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/commodities\/india-denies-sanctions-hold-back-imports-russian-crude-oil<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

India Denies Sanctions Hold Back Imports Of Russian Crude Oil By Tsvetana Paraskova of OilPrice.com India\u2019s lower imports of Russian crude oil in recent weeks…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1447585","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-64A9","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1447585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1447585"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1447585\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1447585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1447585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1447585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}