US EditionIndia's Russian Oil Binge to End in December as Sanctions Bite, Sources Say
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9 Articles
India's Russian oil binge to end in December as sanctions bite, sources say
India's Russian oil imports are projected to reach a three-year low in December, a significant drop from November's multi-month highs. This decline is attributed to refiners seeking alternative sources to comply with tightened Western sanctions on Moscow, particularly targeting major Russian producers.
As early as December, India will reduce Russian oil exports to their lowest level in three years. The reason is Indian refineries' transition to alternative sources to avoid violating Western sanctions, RBC-Ukraine reports, citing Reuters. Buyers of Russian oil had until November 21 to cease cooperation with two Russian oil giants, Rosneft and Lukoil. Furthermore, after January 21, the European Union will begin refusing fuel from refineries that…
India's Russian crude imports projected to hit three-year low in December - Cargo Insights
India is forecast to receive 1.87 million bpd of Russian crude this month, according to provisional Kpler data. Barrels of oil on the high seas, created with Generative AI technology According to trade and refining sources, India’s imports of Russian oil are expected to fall from multi-month highs in November to their lowest point in at least three years in December as refiners look for alternatives to avoid violating Western sanctions. Due to t…
December is bringing a major twist to the story of India's dependence on cheap Russian oil for the past few years. India's Russian oil imports are reportedly set to hit their lowest level in three years this month. Due to stringent sanctions imposed by Western countries, especially the US and the European Union (EU), Indian refinery companies have now started backing down and are looking for alternatives. Fear of US sanctions The war between Rus…
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