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

0
3KB

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.

Gesponsert
Suche
Gesponsert
Kategorien
Mehr lesen
Andere
Outsourced Semiconductor Assembly and Testing Market Growth in Chip Manufacturing Services
  "Propel Your Business Forward and Secure a Competitive Edge" Outsourced Semiconductor...
Von alizagill 2025-04-30 16:08:33 0 1KB
News
From Importer To Innovator — Phenomenal Rise Of Turkish Defense Industry & Military: Should India Be Concerned?
The head of the Turkish Presidency of Defence Industries, Dr. Haluk Görgün, recently...
Von Ikeji 2025-02-06 05:10:26 0 1KB
Food
Victor Dog Food
We’re like you – we want the best for our horses. In 2009 the Cook Family bought the...
Von jamaswilliam 2025-04-08 02:05:28 0 1KB
Andere
QuickBooks Tool Hub: Download, Install & Use to Fix Common Errors Instantly
If you’ve ever run into errors while working on QuickBooks Desktop—like freezing,...
Von jonevans9 2025-04-09 05:16:09 0 1KB
Andere
Madurai To Bangalore Cab
Book Madurai to Bangalore cab online at best price. CabBazar provides car rental services for all...
Von cabbazar34 2025-03-05 06:55:29 0 1KB
Gesponsert
google-site-verification: google037b30823fc02426.html