Tankers carrying 5 million barrels of Russian oil fail to reach India

0
2χλμ.

Six vessels carrying almost 5 million barrels of Russian oil failed to reach their destinations in India, some idling kilometers off the coast for weeks without providing a reason, Bloomberg reported on Dec. 20.

Recent U.S. sanctions targeting the violators of the $60-per-barrel price cap could partially be the reason, the news outlet speculated.

The U.S. Treasury Department sanctioned the NS Century ship, belonging to the Russian Sovcomflot shipping company, on Nov. 16 for violating the price cap.

Two days later, the vessel halted south of Sri Lanka while carrying Russian oil to the Indian port of Vadinar.

In the past week, NS Century was later reportedly joined by two other Sovcomflot-owned tankers carrying oil to Vadinar.

Two more tankers heading to another Indian port, Paradip, also came to a sudden stop before reaching their destinations, and another ship may soon join them, according to Bloomberg.

Five of the listed vessels belong to Sovcomflot.

Both the U.S. and the EU began ramping up sanctions to enforce the price cap on Russian seaborne crude. The measure was imposed last year to limit Moscow's oil revenue without destabilizing global markets.

Although Russia managed to largely avoid the cap in recent months by using a fleet of uninsured "ghost" tankers, Russian oil and gas profits dropped by 41% in 2023 amid tightening sanctions.

With the West weaning itself off Russian oil, Moscow turned to new markets like China and India, offering discount prices.

India is an especially important customer for Russia, as it has been buying more than 60% of Russia's seaborne oil, making it the second buyer of Russian seaborne crude after China.

Αναζήτηση
Κατηγορίες
Διαβάζω περισσότερα
News
Iran-Russia: a growing alliance that rattles the West
The burgeoning alliance between Iran and Russia, which has already seen Tehran assist Moscow in...
από Ikeji 2024-10-10 16:53:01 0 1χλμ.
News
Swelling Demand for AMHS for Semiconductor Market details growth drivers, automation trends, and the role of Automated Material Handling Systems in chip manufacturing.
  AMHS for Semiconductor Market Key Insights: The global AMHS for semiconductor Market is...
από Alexa211 2025-01-09 03:23:32 0 1χλμ.
άλλο
Delhi to Haldwani Cab
Book Delhi to Haldwani cab online at best price. CabBazar provides car rental services for all...
από cabbazar 2024-10-26 14:58:49 0 1χλμ.
άλλο
VMAT2 Inhibitors Market Analysis: Supply Chain, Pricing, and Forecast 2030
"The VMAT2 Inhibitors Market sector is undergoing rapid transformation, with...
από mk007 2025-02-10 18:36:13 0 1χλμ.
άλλο
Developing a Morning Routine When You Live Alone
One of the main benefits that you will get to enjoy when it comes to living alone in an apartment...
από likelyapartments 2024-01-22 22:58:31 0 3χλμ.