Rosneft’s exports to India fell sharply

Shipments of Russian crude oil decreased significantly in the last months of last year.

Russian oil exports to India experienced a sharp decline at the end of 2023. So, in December, this indicator was 1.48 million barrels per day, against a record 2.15 million barrels per day in May. This was reported by Kpler analysts.

In particular, the Kremlin was unable to deliver Sokol oil on 6 tankers. According to experts, the raw materials did not reach the buyer due to payment problems and increased sanctions. Sakhalin-1 LLC, which produces oil in the Russian Far East, simply could not open a bank account in the UAE so that buyers could pay in dirhams as agreed. Earlier in 2023, Indian refiners bought an average of 140,000 barrels of Sokol daily.

However, Kpler believes that 2 of the 6 tankers parked off the coast of India can change their route to China. It is likely that the Russians will continue to try to deliver cargo to India through ship-to-ship operations.