Russian oil stuck en masse on tankers after India cuts purchases — Bloomberg
28.01.2026 - 13:55
The total volume of Russian oil in floating storage is estimated at about 140 million barrels.
After a sharp reduction in imports of Russian oil by India, dozens of tankers cannot unload and have turned into “floating storages” near India and Oman. Bloomberg writes about this.
Thus, the supply of Russian oil to Indian ports in December sank to ~1.2 million barrels per day — a three-year low. In January, imports fell to 1.12 million barrels per day.
Additional pressure is created by new restrictions by the EU and Britain against the “shadow fleet” and the EU ban on the import of oil products produced from Russian raw materials. This complicates insurance, logistics and financing of voyages.
Some tankers have set course for China, but so far only one vessel has been able to unload. Russian cargoes are also being transferred to shore tanks in Indonesia. In recent weeks, unloadings have been recorded in the Karimun area (opposite Singapore), Balikpapan (Kalimantan) and Tanjung Intan (Java) through ship-to-ship operations.
Meanwhile, India is replacing Russian oil with supplies from Angola, Brazil and the UAE. Oil Minister Hardeep Singh Puri expects further reductions in imports from Russia amid diversification of sources.
Meanwhile, as USM reported, dozens of sanctioned tankers are still passing through the English Channel, despite the UK’s promise to take action.
