India will not accept Russian tankers subject to US sanctions

India intends to abandon tankers against which the US has imposed sanctions.

Recall that on Friday, January 10, the US announced the largest package of sanctions against the Russian fleet transporting sanctioned oil. The list includes about 160 tankers and several shipping companies.

Now, as Bloomberg reports, a senior Indian official said that ships that have been hit by sanctions will not be allowed to unload in the country. This does not apply to ships chartered before January 10, provided that they are unloaded by March 12.

The official also noted that the impact of the sanctions will become more noticeable when the period of their rollback ends in two months. At the same time, India believes that the price is currently a problem – it should be noted that the price of oil has jumped after the sanctions – but the rally above $80 “should not last long”.

Meanwhile, Indian refiners are negotiating contracts with the Middle East. India is also examining what will happen to the state-owned companies’ stake in Russia’s sanctioned Vostok Oil project.

Ultimately, the Indian official said, “Russia will find ways to get its barrels to India,” but the country’s banks will still require certificates of origin to ensure the oil does not come from sanctioned carriers.

Recall that only in December did Russia and India sign their largest-ever oil supply deal.