Russia’s oil trade is starting to feel the pressure of Western sanctions as Indian refineries no longer accept tankers of Moscow’s state-owned Sovcomflot shipping company, Bloomberg reported on March 23.
Following the sanctions imposed against Russia over its invasion of Ukraine, Moscow has been seeking new markets for its fossil fuels. India has become a key buyer of Russian oil, second only to China.
Multiple tankers carrying Russian crude have been unable to land in Indian ports in recent months in connection to sanctions. According to Bloomberg, dozens of sanctioned vessels are now idling by in numbers not seen since 2017.
The U.S. has been tightening its restrictions against Russian oil since last October, sanctioning around 40 oil tankers involved in the trade….
